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June 12, 2007

CombinatoRx Pockets $7M with Extension of Drug Device Partnership with Angiotech

  • CombinatoRx and Angiotech Pharmaceuticals have doubled the term of their R&D collaboration related to drug device and local medicines. Based on the successful advancement of a number of product candidates in preclinical models, the extended partnership to a total of five years has resulted in a $7-million payment to CombinatoRx due before October 3, 2007.

    In October 2005, the companies entered into a research and license agreement that granted Angiotech an option to evaluate and exclusively license compounds it selected from the CombinatoRx clinical and preclinical pipeline and its bioinformatics database of synergistic combination pharmaceuticals.

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