HGS, Aegera ink $315M cancer deal

Aegera Therapeutics has pocketed $20 million in a combined upfront fee and equity stake from Human Genome Sciences in exchange for the global rights (excluding Japan) to an experimental cancer drug and related compounds. Aegera also stands to earn up to $295 million in commercial and developmental milestones, including a $5 million payday for the FDA's clearance of an IND. AEG40826--a small-molecule inhibitor of multiple IAP (inhibitor of apoptosis) protein family members--is slated to hit the clinic in early '08.

"Today's announcement underscores HGS's commitment to develop novel targeted therapies for the treatment of cancer," said H. Thomas Watkins, President and CEO, HGS. "Our company has pioneered development of antibody therapies based on the TRAIL receptor apoptotic pathway, and we will now have the opportunity to work collaboratively with Aegera Therapeutics to develop and commercialize exciting small-molecule drugs that also enhance apoptosis in cancer cells.

- read the release on the deal