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Article: FoldRx Gets Up To $22M From Cystic Fibrosis Foundation.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Staff Writer
In its first venture philanthropy deal, FoldRx Pharmaceuticals Inc. signed a five-year collaboration with the nonprofit drug discovery and development arm of the Cystic Fibrosis Foundation, Cystic Fibrosis Foundation Therapeutics Inc. Under the deal, FoldRx could receive up to $22 million to advance new cystic fibrosis drugs.
Richard Labaudiniere, president and CEO of Cambridge, Mass.-based FoldRx, said his company always has been interested in cystic fibrosis because it is the largest disease in which "protein misfolding is linked to the trafficking of protein." He approached CFF after FoldRx's yeast-based screening platform yielded ...