In a further collaboration, IAF BioChem International Inc. andGlaxo Canada will develop a family of anti-cancer compoundsthat have shown promise in preclinical studies againstmelanoma, breast and colon cancers resistant to normalchemotherapies.
The compounds, anthracycline analogs, are "a new family ofproducts," said Dr. Francesco Bellini, IAF president and chiefexecutive officer. Existing anthracycline antibiotics includedoxorubicin and daunorubicin.
Under the agreement in principle for development andmarketing of the compounds, Glaxo will provide researchfunding, up-front money and royalties in percentages verysimilar to other agreements between the companies, Bellinitold BioWorld.
Glaxo is funding development of an anti-AIDS nucleoside drug,3TC, and is paying IAF about $2.6 million ($3 million Canadian)annually for five years to continue research into anti-viralnucleosides. The Laval, Quebec, company has received about$2.6 million in milestone payments for 3TC and will getroyalties on sales outside North America, and royalties plus a50 percent share of manufacturing profits within NorthAmerica.
The companies formed a 50-50 joint venture in 1990 todevelop and market compounds for cancer and viral diseases.
IAF stock (NASDAQ:BCHXF) closed Thursday at $29.13, up 13cents. -- RF
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