Astex Announces Early Transfer of Epigenetics Project to GSK
Astex Pharmaceuticals, Inc. announced that the multi-year collaboration to discover cancer therapeutics based on epigenetic targets entered into by SuperGen, Inc. and GlaxoSmithKline (GSK) in November 2009 is terminating and existing research work and assets generated under the CLIMB™ epigenetic collaboration will be transferred to GSK. Astex will have no further obligation to conduct additional research work on the program. This decision follows on from the review and rationalization of Astex’s internal pipeline and drug discovery programs as part of the recent merger of Astex Therapeutics Limited and SuperGen, Inc. to form Astex Pharmaceuticals, Inc., and discussions with GSK. As a result of the transfer, Astex will continue to be eligible to receive milestones and royalties under an asset transfer agreement. A separate Research and Development Collaboration and License Agreement which includes a multi-target drug discovery collaboration, entered into by Astex’s UK subsidiary, Astex Therapeutics Limited and GSK in November 2009 will continue as previously announced.
“The decision to transfer the CLIMB™ epigenetic program to GSK was based on our assessment of internal resources and discussions with GSK,” said Harren Jhoti, PhD, president of Astex Pharmaceuticals. “We continue to work closely with GSK on the discovery of molecules using our PyramidTM fragment platform as part of our successful and ongoing collaboration against multiple targets of interest to GSK entered into in November 2009.”
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