Infinity Pharmaceuticals Inc. (INFI: Quote) announced that it has entered into an agreement with Intellikine Inc. under which Infinity obtained global development and commercialization rights to Intellikine's portfolio of inhibitors of the delta and gamma isoforms of phosphoinositide-3-kinase or PI3K.
As per the terms of the deal, Intellikine will receive $13.5 million in initial license payments, committed research funding over the first two years of the relationship to identify additional novel delta, gamma and dual delta/gamma-specific inhibitors of PI3K for future development, up to $25 million in success-based milestones for the development of two distinct product candidates, and up to $450 million in success-based milestones for the approval and commercialization of two distinct products.
In addition, Intellikine will be entitled to receive royalties upon successful commercialization of products licensed to Infinity.
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by RTT Staff Writer
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