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Drug Names(s): VX-944
Description: VX-944 is a small molecule IMPDH inhibitor.
Deal Structure: Vertex Pharmaceuticals and Avalon Pharmaceuticals Incorporated entered into a licensing agreement on 2/15/05 for the development of VX-944 in oncology indications. Under the terms of the agreement, Avalon will hold exclusive rights to develop and commercialize VX-944 worldwide for the treatment of various cancers. Avalon, a privately held company with a therapeutic focus in cancer, will make up to $73 million in up-front license fees and milestone payments to Vertex based on the successful development and commercialization of VX-944 in oncology. Upon commercialization, Vertex will receive royalties on product sales. Vertex retains certain rights to co-promote VX-944 in U.S. and European markets.
In October 2008, Clinical Data and Avalon Pharmaceuticals announced that they entered into a definitive merger agreement for Clinical Data to acquire Avalon in an all-stock transaction valued at approximately $10 million. The acquisition was completed in May 2009.
Actavis and...See full deal structure in Biomedtracker
Partners: Vertex Pharmaceuticals Incorporated
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