Issue Date: June 16, 2008
Astex Forms Alliance With J&J's Janssen
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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