Astex announces drug discovery alliance with Boehringer Ingelheim
Under the terms of the agreement, Boehringer Ingelheim will make an upfront payment to Astex for access to its Pyramid(TM) technology, will fund the research programmes and will provide milestone payments plus royalties based on the sales of approved products.
"We are delighted that Boehringer Ingelheim has chosen Astex for this significant collaboration," commented Timothy Haines, Chief Executive of Astex. "This provides further validation of Astex's world-leading position in fragment-based drug discovery, and underscores the potential of our Pyramidä approach for developing novel lead compounds against important disease-related targets."
Professor Dieter Hinzen, Head of R&D at Boehringer Ingelheim Pharma GmbH & Co. KG, Germany, said "Astex's fragment based Pyramid(TM) approach nicely complements our internal technology portfolio for the discovery and optimization of lead compounds for targets in areas of unmet therapeutic need. This cooperation underlines BI's commitment as a research driven company to provide innovative drugs to the patient."
Most read news
Other news from the department business & finance
Get the life science industry in your inbox
From now on, don't miss a thing: Our newsletter for biotechnology, pharma and life sciences brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.