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November 11, 2003 |
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– Plexxikon Inc., a privately held drug discovery company, today announced that a lead compound for an oncology target has been accepted by Genentech, thereby triggering a milestone payment to Plexxikon. The compound is a novel kinase inhibitor developed by Plexxikon under a drug discovery collaboration established with Genentech in May 2003. The companies are collaborating to develop a series of novel small molecule therapeutics for the treatment of cancer and other diseases, for which Genentech has an option to further develop, commercialize and market under a worldwide license.
"We are very pleased to have achieved this first milestone in less than six months with the delivery of a novel lead compound to Genentech," said Peter Hirth, Ph.D., chief executive officer of Plexxikon. "This result, along with demonstrated success in the company's internal programs, provides further validation of Plexxikon's drug discovery platform and our ability to discover important new drug candidates for the treatment of cancer and other diseases. Both in our metabolic and respiratory disease programs, we also have developed novel small molecule compounds with promising pharmaceutical properties in a matter of months and requiring the chemical synthesis of fewer than 100 compounds."
Under the terms of the agreement, Plexxikon is applying its Scaffold-Based Drug Discovery™ platform to develop a series of novel small molecule inhibitors against a single gene target in the protein kinase family, particularly implicated in oncology. Genentech has an option to commercialize and market a series of compounds resulting from the collaboration under a worldwide license. Development of these compounds, including clinical testing and manufacturing, will be the responsibility of Genentech.
Plexxikon Profile
Plexxikon is a leader in the discovery and development of novel small molecule pharmaceuticals to treat human disease. Plexxikon's proprietary Scaffold-Based Drug Discovery™ platform is being applied to build therapeutic franchises in metabolic and cardiovascular disease, inflammation and oncology. This discovery process integrates a number of state-of-the-art technologies, including structural screening as one key component that provides a significant competitive advantage over other drug discovery approaches. To date, the company has discovered a portfolio of clinical and preclinical stage compounds in each of these franchises.
Currently, the company's most advanced program is a PPAR pan-agonist for the treatment of diabetes and related cardiovascular complications, with the lead candidate now in Phase 2 clinical testing in collaboration with Wyeth Pharmaceuticals. Other discovery programs include a dual kinase inhibitor for the treatment of rheumatoid arthritis and other inflammatory diseases and a renin inhibitor for hypertension in collaboration with Servier. Plexxikon is seeking pharmaceutical and biotechnology partners for select collaboration opportunities. For more information, please visit www.plexxikon.com.
2007 | 2006 | 2001 - 2005
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