CombinatoRx gains $7M from extended research pact

CombinatoRx is picking up a $7 million payment for extending its research collaboration with Angiotech. The companies said the extension--to five years--was based on the successful advance of their preclinical programs.

"This collaboration capitalizes on CombinatoRx's capability in the discovery of synergistic combination drug candidates and Angiotech's significant expertise in the development and commercialization of drug-device combinations and local interventional medicines," commented Alexis Borisy, president and CEO of CombinatoRx.

- check out this release

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