Drug Development

Novartis picks drug for development from protein kinase research collaboration

Published in Hematology Week, December 6th, 2004

Vertex Pharmaceuticals Incorporated (VRTX) announced that Novartis has selected a small molecule protein kinase inhibitor, VX-322, from Vertex for clinical development for the treatment of cancer.

VX-322 is the first drug candidate to be transferred from Vertex to Novartis under an amended agreement to discover and develop drug candidates directed at the protein kinase gene family, and represents a novel, highly targeted approach to the treatment of cancer. In conjunction with the selection of VX-322, Vertex will receive $10 million from Novartis, a portion of which will be recognized by Vertex as revenue in the fourth quarter of 2004, with the remainder recognized...

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Source: Hematology Week (2004-12-06)

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