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Astex Forms Alliance With J&J's Janssen

June 16, 2008 | APPEARED IN VOLUME 86, ISSUE 24

Astex Therapeutics will work with Janssen Pharmaceutica, a Johnson & Johnson company in Belgium, to develop anticancer drugs. In exchange for $37 million in upfront fees, research funding, and an equity investment in Astex, Janssen gets an exclusive license to compounds from the British firm's fibroblast growth factor receptor (FGFR) inhibitor program. Astex has discovered selective FGFR inhibitors using its fragment-based drug discovery platform. Astex could receive $500 million or more, excluding royalties, in milestone payments.

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