London-based MRC Technology has inked a licensing pact with Genentech for a package of small molecule drug candidates for neurological conditions. MRC gets an unspecified upfront payment along with a slate of potential milestones for the licensing deal, the first major small molecule collaboration MRC has struck for its Centre for Therapeutics Discovery.
CTD was formed a year ago from the MRC Technology Drug Discovery Group. MRC Technology not only works with targets from the U.K.'s Medical Research Council, but it also has a pipeline of targets from academic organizations worldwide.
"This licensing deal is just one example of the innovative ways that MRC Technology is now exploiting both its small molecule and therapeutic antibody capabilities," says Dave Tapolczay, CEO of MRC Technology. "We can collaborate with other technology transfer organizations, on a shared risk basis, to develop small molecule drug discovery programmes and targets with therapeutic potential. When the resulting clinical candidate is subsequently licensed, both parties will not only accomplish their translational research aims, but also share in its commercial success going forward."
- here's the release