Company hopes to identify compounds that have potential to treat cancer and other diseases.
Poniard Pharmaceuticals finalized an agreement with The Scripps Research Institute to license protein kinase inhibitors resulting from their almost three-year collaboration. In August 2005, Poniard (then NeoRx) forged a collaboration with Scripps focused on discovering small molecule, multitargeted, protein kinase inhibitors as therapeutic agents, including cancer treatments.
Poniard gave Scripps $2.5 million over 26 months to support the research and retained an option to negotiate a worldwide, exclusive license to any compounds developed through the collaboration.
“We are pleased with the productive collaboration with Scripps and we are continuing to build on the progress of this collaboration to identify compounds that have significant potential to treat cancer and other diseases,” says Jerry McMahon, Ph.D., chairman and CEO of Poniard.
