Posted on 22/12/2009 in Pharmaceutical Company Product News Astellas and Ambit Biosciences have announced that they will work together in the future to develop and market FLT3 kinase inhibitors for multiple treatment options.
One of the medicines that the two firms will work on is Ambit's relapsed/refractory acute myeloid leukaemia (AML) treatment AC220, which was submitted for trialling earlier this month.
The firms will be equally responsible for the development expenses of the drug.
A total of $40 million (24.91 million pounds) will be paid by Astellas to Ambit upfront and the organisation will also be eligible for future payments up to $350 million.
Masafumi Nogimori, president and chief executive of Astellas, stated: "We believe that AC220, as the most selective and advanced FLT3 kinase inhibitor, has the potential to provide a new treatment option for AML where high unmet needs exist."
In other Astellas news, the firm revealed earlier this month that it received the exclusive rights to develop and commercialise linaclotide from fellow pharmaceutical firm Ironwood. Other news stories from 22/12/2009
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