FORMA THERAPEUTICS ANNOUNCES ADVANCEMENT OF TUMOR METABOLISM COLLABORATION WITH JANSSEN
Ongoing Collaboration Advances as FORMA Therapeutics Receives Licensing Payment and Additional Research Funding
WATERTOWN, Mass., July 9, 2013 – FORMA Therapeutics announced today the advancement of their tumor metabolism alliance with Janssen Biotech, Inc. from a research collaboration and option agreement to an executed license agreement.
“This expanded alliance with Janssen demonstrates FORMA’s ability to execute and deliver quality drug programs to our partners. As we now take a defined program through the next stages of development for Janssen, we will be leveraging additional innovative translational insights through our strategic partnership,” said Steven Tregay, Ph.D., President and CEO, FORMA Therapeutics. “This model has resulted in multiple high-quality drug programs for our partners.”
Under the terms of the initial agreement as announced in January 2012, FORMA was responsible for discovery and development of novel small molecule drug candidates against tumor metabolism targets. As part of Janssen’s election to execute a license agreement as granted in the original agreement, FORMA will receive additional undisclosed payments, as well as potential future milestones and royalties on each product.
“The scale and speed on which FORMA executes across broadly defined areas of biology is impressive. The collective excitement of FORMA and Translational Drug Development (TD2) teaming up with Janssen is shared by all of us here,” stated Daniel Von Hoff, M.D., F.A.C.P., Distinguished Professor and Physician-in-Chief, Translational Genomics Research Institute (TGen) and TD2 Senior Investigator.
In addition, Janssen has expanded the initial collaboration with FORMA to include exploration into new targets.
“In order to better understand the interplay of targets within each of four areas (tumor metabolism, epigenetics, protein homeostasis and protein-protein interactions), FORMA initially selects 10 to 20 key targets in each area to examine and quickly creates novel drugs to drive a true chemical biology approach. We look forward to continuing our partnership with Janssen and leveraging capabilities from both groups to advance these programs,” stated Kenneth W. Bair, Ph.D., Chief Scientific Officer and Head of Research and Development, FORMA Therapeutics.
FORMA Therapeutics targets essential cancer pathways to create transformative small molecule cancer therapies. FORMA’s novel approach to accessing high value drug targets, many of which pose significant challenges to conventional discovery approaches, leverages the integration of its innovative drug discovery technologies and oncology expertise, enabling efficient screening, discovery and rational development of small molecule drug candidates with qualified cellular mechanisms of action. FORMA is leveraging translational and clinical development capabilities through their strategic relationship with Dr. Daniel Von Hoff and Translational Drug Development (TD2) to build a robust pipeline of transformative cancer therapies in areas such as tumor metabolism, epigenetics, protein homeostasis and protein-protein interactions. FORMA is headquartered in Watertown, MA. For more information, visit: www.formatherapeutics.com
Translational Drug Development (TD2) is an oncology development organization wholly owned by the Translational Genomics Research Institute (TGen). Using a dedicated team of professionals with broad experience and understanding in drug development, TD2 provides innovative services for oncology-focused biopharmaceutical companies. TD2 is uniquely positioned to support improved and accelerated development of medicines for life-threatening diseases. TD2 applies rigorous and high-throughput translational preclinical development, combined with regulatory affairs expertise, to customize clinical trial design and execution. TD2’s suite of capabilities encourages the timely selection of patient populations most likely to benefit from a new agent, and the rapid identification of clinically significant endpoints. TD2 is committed to reducing the risks and uncertainty inherent in the drug development process and to the acceleration of patient access to promising treatments. For more information, visit: www.td2inc.com
The Translational Genomics Research Institute (TGen) is a Phoenix, Arizona-based non-profit organization dedicated to conducting groundbreaking research with life changing results. Research at TGen is focused on helping patients with diseases such as cancer, neurological disorders and diabetes. TGen is on the cutting edge of translational research where investigators are able to unravel the genetic components of common and complex diseases. Working with collaborators in the scientific and medical communities, TGen believes it can make a substantial contribution to the efficiency and effectiveness of the translational process. For more information, visit: www.tgen.org
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MacDougall Biomedical Communications