BTG Inks $320 Million Preclinical Deal With Onyx

This post was commissioned on November 10, 2008, and it was categorized as License/Partnership.

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BTG has granted the worldwide commercialization and development rights of BGC 945, a novel anticancer compound, to Onyx in exchange for a potential $320M.

BGC 945 is a novel compound that inhibits thymidylate synthase (TS), an enzyme involved in cell growth and division. However, unlike traditional TS inhibitors, BGC 945 enters tumour cells via the alpha-folate receptor, which is over-expressed in certain tumour types, including ovarian, lung, endometrial and mesothelioma cells, but has a restricted expression profile in normal tissues.

Terms
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Upfront: $13M
Milestones: $72M up to approval and $235M for approval and commercial successes in addition to royalties.
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BTG has progressed BGC 945 into late-stage preclinical development in collaboration with The Institute of Cancer Research (ICR) where the compound was discovered. BTG will share approximately 10% of the upfront and milestone revenues it receives relating to BGC 945 with ICR plus a pass-through royalty.

BTG plc Signs Up To $320 Million Drug Deal With Onyx Pharmaceuticals, Inc.
-(Via BioSpace.com Featured News and Stories.)

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Eben Tessari

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