Astex achieves drug discovery milestone with Boehringer Ingelheim
Astex Technology announced that it has successfully achieved the first milestone in its drug discovery collaboration with Boehringer Ingelheim. Financial terms were not disclosed. The multi-target based collaboration announced in March 2004 is a three-year alliance for the discovery of novel drugs for various therapeutic indications where Astex is applying its proprietary fragment-based discovery approach, Pyramid(TM), to generate novel drug molecules that are active against disease targets selected by Boehringer Ingelheim.
Boehringer Ingelheim will be responsible for all clinical development of drug compounds arising from the collaboration and has an option to obtain worldwide exclusive marketing rights for all identified compounds. Under the terms of the multi-target collaboration, Boehringer Ingelheim made an upfront payment to Astex for access to its Pyramid(TM) technology, provides funding for the research programmes and milestone payments as candidate drug molecules move through preclinical and clinical development, plus royalties based on the sales of approved products.
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