Under the terms of the agreement, Amgen has the right to develop drug candidates it has identified from Infinity’s compound collection.
Infinity received an upfront license fee from Amgen and is eligible to receive milestones and royalties based on successful preclinical and clinical development and marketing of products resulting from Amgen’s use of Infinity’s compounds.
Infinity first announced its collaboration with Amgen in January 2004, at which time Amgen made a $25 million equity investment in Infinity. Amgen currently owns less than 10% of the company.
The Amgen alliance is just one of a number of collaborations that have provided Infinity with over $60 million in upfront and committed funds, as well as potential milestone and royalty payments. Amgen, Novartis, and Johnson & Johnson are using Infinity’s collection of diversity oriented synthesis (DOS) compounds in their own drug discovery efforts, and Infinity recently announced its first partnership involving product candidates discovered by Infinity from its DOS collection.