Lynx Therapeutics Inc. entered into an agreement for its leadcompound Wednesday in a deal worth $11.5 million.
The collaboration gives Tanabe Seiyaku Co. Ltd., of Osaka rights toLR-3280, a candidate for coronary artery restenosis, in Japan andcertain other Asian countries. Lynx, of Hayward, Calif., will get $3.5million up front and can earn another $8 million in milestones.
Tanabe will be responsible for all development and regulatoryactivities in its territories. Lynx retained all manufacturing rights.Lynx said it is in discussions with pharmaceutical companiesregarding potential collaborations for LR-3280 in Europe and theU.S.
The drug is a synthetic oligonucleotide designed to interfere with theexpression of a gene believed to play a role in the scarring, orrestenosis, that follows angioplasty and other procedures used toclear obstructions caused by atherosclerotic plaque in arteries.
Initial human safety studies of LR-3280 have been conducted inArgentina. Lynx said additional trials will begin soon in Europe. U.S.studies aren't likely to begin until a partner is found.
The restenosis technology was partnered with Wellcome plc, ofLondon, in August 1994, but that deal was terminated after Glaxo plcbought Wellcome. Lynx's other significant collaboration is withHoechst Marion Roussel, of Frankfurt, Germany, which gainedaccess to sequencing technology being developed by Lynx. (SeeBioWorld Today, Oct. 13, 1995, p. 1.)
Lynx reported having about $7 million before this deal. It has beenspending nearly $1 million per month. _ Jim Shrine
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