CombinatoRx to pocket $42M in new collaboration

CombinatoRx has signed a deal with Angiotech Pharmaceuticals worth $42 million at closing. Boston-based CombinatoRx will gain $27 million up front and a $15 million equity investment to join a collaboration to develop new drug-device combinations and local interventional medicines. CombinatoRx has been involved in searching for new combination drugs. The intellectual property created in the collaboration will be jointly owned.

- read this press release [1] for more information