Genelabs Technologies Inc. said it has completed an exclusivelicensing agreement to develop the anti-cancer compoundGL331 with the compound's discoverers at the University ofNorth Carolina, Chapel Hill.
The compound, isolated by UNC scientists from the mayappleherb, has shown activity in the lab against cancer cells thathave become resistant to other chemotherapies.
The company will develop the compound and pay UNCmilestone payments and sales royalties. Genelabs(NASDAQ:GNLB) expects to file this year for permission to beginclinical trials.
The Redwood City, Calif., company also will jointly developGL331 with Yung Shin Pharmaceutical Co. Ltd. in Taiwan and iscollaborating there on clinical research of the compound withthe Institute for Biomedical Sciences of the Academica Sinica.
Genelabs shares lost 13 cents on Friday to $9.25.
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