Infinity Pays $13.5M License Fee for Intellikine’s PI3K Inhibitor Pipeline
Intellikine has option to participate in U.S. commercialization of delta and gamma inhibitors.!--h2>
Infinity Pharmaceuticals is paying Intellikine $13.5 million in initial license fees as part of the firms’ global development and commercialization deal for the latter’s phosphoinositide-3-kinase (PI3K) inhibitor pipeline. The agreement is focused on Intellikine’s portfolio of inhibitors of the delta and gamma isoforms of PI3K. Clinical development of lead inflammatory diseases candidate INK1197 is expected to start in 2011, Infinity suggests.
Infinity will also provide Intellikine with research funding over two years to identify new delta, gamma, and dual delta/gamma-specific PI3K inhibitors. Intellikine could, in addition, earn development and commercialization milestones. These could reach some $475 million if two products achieve regulatory clearance.
The firm also retains an option clause at the end of the Phase II trials stage for any product being co-developed primarily for oncology indications. At this point Intellikine will be able to pay Infinity an option fee and swap its existing rights to future U.S. sales royalties for a 50% share in profit/loss in U.S. development and commercialization, and participation in up to 30% of the detailing effort for the products in the U.S..
“The opportunity to co-develop and co-detail PI3Kdelta/gamma drug candidates in oncology with Infinity is a key component of our strategy to build an oncology business,” states Troy Wilson, Ph.D., president and CEO at Intellikine. “This collaboration provides us with significant resources to advance our own TORC1/3 and PI3Kalpha drug candidates.”
Infinity says the Intellikine portfolio will be integrated into its existing alliance with Mundipharma International, which was initiated in November 2008. Under terms of this deal Mundipharma retains non-U.S. commercialization rights to Infinity products in the oncology field. Development of the newly licensed PI3K inhibitors will be funded by Mundipharma until either the end of 2013, or until the start of Phase III clinical development.