Epix and Cystic Fibrosis Foundation Therapeutics are collaborating on a treatment for the disease.
Epix Pharmaceuticals Inc. (Nasdaq:EPIX) has received a $500,000 milestone payment from the Cystic Fibrosis Foundation affiliate Cystic Fibrosis Foundation Therapeutics Inc. after identifying two structural classes of dual-acting compounds that are most common mutation of the key protein associated with cystic fibrosis.
The latest payment increases Epix's milestone payments to $4.5 million. In April 2008, Cystic Fibrosis Foundation Therapeutics and Epix expanded the potential value of their collaboration to more than $50 million. Epix will own all worldwide rights to any compound that results from this collaboration.
Published by Globes [online], Israel business news - www.globes-online.com - on September 28, 2008
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