Astex, J&J sign $500 million cancer drug research deal

06/10/2008 | Reuters

U.K.-based Astex Therapeutics announced it has signed a cancer drug research deal that gives Johnson & Johnson's Janssen unit worldwide rights to develop and commercialize compounds arising from Astex's FGFR inhibitor program. The agreement, which could be worth more than $500 million in milestone payments, also creates a drug discovery program for two additional cancer therapy targets.

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