Gensia Pharmaceuticals Inc. has entered into a researchcollaboration with Allergan Inc. in which the ophthalmicscompany will evaluate the San Diego biotech company's ARAcompound as a eye treatment.
Gensia (NASDAQ:GNSA) will supply purine and pyrimidinecompounds to Irvine, Calif.-based Allergan (NYSE:AGN) forpreclinical testing. Allergan's interest was prompted by theanti-inflammatory properties revealed in preclinical tests ofGensia's adenosine regulating agents (ARAs).
Gensia will retain ownership of compounds and developments,and the collaborators will negotiate plans to commercializediscoveries. No money is exchanging hands at this point, saidMartha L. Hough, vice president for planning andadministration at Gensia.
Arasine, Gensia's lead ARA compound, is in Phase III trials forpreventing complications of bypass surgery.
Gensia stock gained $1 to $58.50. -- RF
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