Novellus Executes Exclusive Worldwide License Agreement with Plexxikon for PLX8394, Plexxikon’s Next-Generation, Clinical StageBRAF Inhibitor
“We are excited about executing this agreement with Novellus for PLX8394, as it enables our unique BRAF inhibitor to potentiallyoffer clinical benefit for non-V600 patients as well as V600 patients that lack other treatment options,” said Gideon Bollag, PhD, Plexxikon CEO.
“We are very pleased to sign this agreement with Plexxikon, an established drug development company with an impressive trackrecord, including two marketed oncology drugs. We believe that the combination of PLX8394 with our Functional Annotation for Cancer Treatment (FACT) technology will enable rapid and successful development of this novel BRAF inhibitor for patient subpopulations in dire need,” said Michael Vidne, PhD, Novellus CEO. “This agreement is the first step in Novellus’ strategy to develop compounds by functionally testing them on hundreds of mutations to identify hyper-specific biomarkers and match them with the right patients.”
Under the terms of the agreement, Plexxikon grants Novellus rights to research, develop, manufacture and exclusivelycommercialize PLX8394 worldwide. Plexxikon will receive an undisclosed upfront payment, additional developmental milestones, and royalty payments.