Zalicus Inc (ZLCS)

[BioSpecialist]

Clinical Data licenses cancer drug for $252M
CombinatoRx licenses myeloma drug candidate from Clinical Data for up to $252 million

* On Thursday August 13, 2009, 11:32 am EDT

o
Buzz up! 0
o Print

*
Companies:
o Clinical Data, Inc.

NEW YORK (AP) -- Clinical Data Inc. said Thursday it licensed a potential cancer treatment to CombinatoRx in a deal worth as much as $252 million, plus royalties on sales.

The drug candidate, designated ATL313, is in preclinical testing. It is seen as a possible treatment for multiple myeloma, a cancer of blood plasma cells, and cancers that affect the immune system's B-cells. Clinical Data will get up to $252 million if the drug advances through testing, is approved for sale, and reaches sales targets.

Clinical Data has an option to co-promote the drug, and can exercise that option after mid-stage clinical testing is complete. The Newton, Mass., company said there are about 74,000 new cases of multiple myeloma diagnosed each year, and the disease kills 45,000 people worldwide annually.