Infinity inks $488M pact on Intellikine's PI3K portfolio
Infinity Pharmaceuticals, a 2005 Fierce 15 company, has scooped up the global development and commercialization rights to a portfolio of oral PI3K inhibitors developed by Intellikine, including one inflammatory disease program slated to begin clinical trials next year. Intellikine gets $13.5 million upfront, two years of research support, plus $475 million in development, approval and commercialization milestone payments.
Intellikine is holding on to an option to convert its royalty rights for any cancer drugs developed under the agreement to a 50 percent stake in the profits and losses. And it has the right to manage close to a third of the detailing work that will be done in the U.S. on any approved cancer drugs it is partnered on.
"Targets such as PI3Kdelta and PI3Kgamma have broad applicability across inflammatory and oncology indications, creating many opportunities to make a meaningful impact for patients," said Julian Adams, president of research and development at Infinity.
Intellikine CEO Troy Wilson said: "This collaboration provides us with significant resources to advance our own TORC1/2 and PI3Kalpha drug candidates. 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."
- here's the Infinity and Intellikine release