Amphora Sells Oncology Program to Genentech

12-Jan-2007

Amphora Discovery Corporation announced that it has entered into an agreement with Genentech, Inc. pursuant to which Genentech will purchase Amphora's entire program for an unnamed oncology target with the potential to treat multiple oncology indications. Other terms of the agreement were not disclosed. Under the terms of the agreement, Genentech acquired all of the intellectual property for the program, including the preclinical lead and several backup series.

"We are delighted that Genentech sees the potential value of one of our early stage programs," said C. Nicholas Hodge, Ph.D., Amphora's CSO and founder. "I personally see this as validation of our ability to produce high quality drug candidates."

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