Partnering is a key component of our strategy, and we are actively seeking partners to help us to achieve our strategic goals.
Infinity Pharmaceuticals – July 2010
We entered into an agreement with Infinity to develop oral therapies targeting PIK3Kδ and PI3Kγ for indications including immune-mediated inflammatory diseases and cancer. Among these inhibitors is INK1197, an orally available dual-active PI3Kδ/γ inhibitor for which clinical development is expected to commence in 2011.
This collaboration provides Intellikine with $13.5 million in initial license payment, committed research funding for two years, up to $25 million in success-based milestones for development of two distinct product candidates, and up to $450 million in success-based milestones for the approval and commercialization of two products. Additionally, at the end of the Phase II clinical program upon payment of an option fee, Intellikine may convert its royalty interest in U.S. sales into the right to share in 50% of profits and losses for U.S. development and commercialization of products primarily directed to oncology indications and to participate in up to 30% of the detailing effort in the U.S. Along with our internal programs focused on TORC1/2 and PI3Kalpha, this ability to co-develop and co-detail PI3Kdelta/gamma drug candidates in oncology with Infinity is a key component to our strategy to build a successful oncology business.
We continue to evaluate partnering opportunities to realize the value of our pipeline and technology. For more information about partnering with Intellikine, please contact Paul Resnick, V.P. Business Development, at paul@intellikine.com.