Genentech, Avalon's RQx in discovery deal

Genentech Inc. partnered with RQx Pharmaceuticals Inc. (San Diego, Calif.) to discover and develop compounds against an undisclosed target. RQx is eligible to receive up to $111 million in an undisclosed upfront payment and milestones, plus royalties on sales of resulting products. The partners are not disclosing the specific disease area of the deal, but RQx CEO Court Turner said the focus is on "everything RQx has created since inception." Turner is a venture partner at Avalon Ventures, which founded RQx in 2010 to develop broad-spectrum small molecule antibiotics for infections, including those caused by multi drug-resistant Gram-negative bacteria. ...