CuraGen, TopoTarget cancer deal
CRGN received exclusive ex-European development and commercialization rights to TopoTarget's PXD101, a histone deacetylase (HDAC) inhibitor in Phase I testing to treat advanced solid tumors. Under the deal, CRGN will make a $5 million equity investment in TopoTarget (Copenhagen, Denmark) and will pay another $5 million in license fees. TopoTarget also is eligible for up to $10 million in milestones and research funding over the next 12 months, another $4 million in research funding over the following 24 months, and a further $27 million in development, regulatory and commercialization milestones. The partners will pay each other royalties in their respective territories. TopoTarget has the option to fund a portion of the global development of PXD101 in exchange for higher royalties. ...