Home » News » 12/05 » Novartis signs $520m deal with UK's Astex

Novartis signs $520m deal with UK's Astex

Date published: 08/12/2005

Swiss drug firm Novartis has signed a global licensing deal with British biotechnology company Astex Therapeutics to market two new cancer treatments. The agreement gives Novartis world wide rights to the AT9311 cell inhibitor, and allows them to exercise an option on the AT7519 cell cycle inhibitor. The drugs both target the cyclin-dependent kinases (CDK) enzymes, which form a part of the process of cell division.

Novartis will initially hand $25 million to Astex and will provide further funding support for research, registration, royalties and other costs pertaining if Novartis chooses to pursue AT7519. The deal could eventually be worth $520 million to Astex.

"As a well-established leader in the development of novel cancer treatments, Novartis has made tremendous scientific contributions toward improving the lives of cancer patients," said David Epstein, president of Novartis Oncology.

"We believe AT9311 represents a potential best-in-class compound that will compliment our already broad and deep oncology pipeline," he added.

AT9311 is currently coming to the end of its preclinical testing, whilst AT7519 is undergoing phase I trials.

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