Plexxikon, Roche ink $335M development pact

Plexxikon has nailed a $335 million development and commercialization pact with Roche, garnering $60 million of that in an upfront fee. The deal covers PLX5568, an experimental therapy for a rare genetic kidney disease as well as additional undisclosed programs. The therapy is currently in Phase I.

Plexxikon is responsible for the early-stage development work, with mid-stage trials expected to begin later this year. Plexxikon retains U.S. co-promotion rights for PLX5568 and any other drugs advanced in the collaboration. This is the second development pact entered into by the two companies.

"PLX5568 is yet another first-in-class compound from Plexxikon that further highlights our platform's capability to develop highly selective kinase inhibitors. We hope PLX5568 will significantly delay the loss of kidney function due to this debilitating disease, leading to improved quality of life for patients," said K. Peter Hirth (photo), Ph.D., chief executive officer of Plexxikon.

- read the press release
- check out the report from Dow Jones

Related Articles:
Roche, Synta ink $1B deal
Roche's chance for $45B Genentech deal dwindles
Roche snaps up Memory Pharma for $50M
Roche: Economic crisis won't stop Genentech bid
Plexxikon strikes $100M collaboration pact (Oct 2006)