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Article: Inotek, Genentech Enter Deal: Up To $600M-Plus For PARPs.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
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West Coast Editor
Inotek Pharmaceuticals Corp.'s Phase II poly-ADP polymerase (PARP) inhibitor program bagged the firm a potential $600 million-plus deal with Genentech Inc., which is paying the privately held company $20 million up front.
Signing with "arguably the top oncology company in the world" gives Inotek leverage to take its next-generation PARP inhibitors forward into fields not covered by the pact, said Jeff Walsh, business development officer for Inotek, of Beverly, Mass.
The 130-employee firm, which has raised $55 million since its inception a decade ago and operates also at two sites in Israel, now has "enough money to move this ...