As told by Xconomy, Five Prime has concluded a deal with Human Genome Sciences (HGS) that will pay it $50 million upfront with the possibility of receiving upt to $445 million in additional milestones. HGS will gain access to Five Prime's drug candidate FP-1039 and will have marketing rights in the US, Canada and Europe.
FP-1039 targets member of the fibroblast growth factor family and inhibits their action in stimulating blood vessel formation to feed tumors. The drug can be targetted at multiple cancers. Five Prime hopes the deal signals the beginning of its evolution from a drug discovery company to one with therapeutic products in the pipeline.
Posted by Bruce Lehr March 17th 2011.
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