6:01AM Astex Pharma earns $5.4 mln milestone on Phase I trial initiation of a FGFR kinase inhibitor (ASTX) 1.82 : Co announces that Janssen Pharmaceutical has received clearance to commence a Phase I clinical trial of a Fibroblast Growth Factor Receptor kinase inhibitor from its collaborative, cancer drug discovery program with Astex. The regulatory approval required to take the compound into Phase I triggers a milestone payment to ASTX of GBP3.5 mln ($5.4 mln). ASTX is also eligible to receive further milestones during clinical development and royalties on commercialization of products derived from the collaboration.
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