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news.Burnham Institute for Medical Research has agreed to grant Coronado Biosciences exclusive worldwide rights to develop and commercialize cancer drug apogossypol.
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Apogossypol is a small molecule that is believed to inhibit key prosurvival proteins from the Bcl-2 family. Preclinical models have suggested that the inhibition of these proteins by apogossypol results in cancer cell apoptosis and reversal of cancer therapy resistance, Coronado said.
Under the terms of the agreement, Coronado will manage all development and commercial activities worldwide. The Californian biotechnology company plans to file a US IND and begin clinical studies for oncology indications in mid-2008.
Coronado will pay Burnham an upfront payment and potential future milestones in excess of $15 million if apogossypol is successfully developed and commercialized. In addition, Burnham will receive royalties on worldwide sales of the drug.