Fox Chase Cancer Center and Cancer Research Technology Inc. Initiate Drug Discovery Collaboration
London, UK; Philadelphia, USA, 1st March 2007 – Cancer Research Technology Inc. (CRT Inc.), the US subsidiary of Cancer Research Technology Limited (CRT Ltd.), and Fox Chase Cancer Center (Fox Chase) today announce the initiation of an oncology-focused drug discovery collaboration.
The drug discovery programme focuses on the development of small molecule inhibitors of an undisclosed kinase. The collaboration builds on a series of validated hit compounds possessing relevant cell-based activity, identified by leading Fox Chase research scientists. Hit to lead studies to optimise potency and drug-like characteristics of the compounds will be performed in CRT’s development laboratories located in London, UK. Novel small molecule inhibitors generated by CRT’s medicinal chemists will be characterised in specialised secondary biological assays at Fox Chase.
Dr Larry Steranka, Managing Director of CRT Inc. said, “We are delighted to form this exciting partnership with Fox Chase. This is the first US-academic relationship to be announced by CRT Inc. and builds on the existing relationships established by CRT Ltd.”
Frances Galvin, Assistant Director, Business Development of Fox Chase said, “Our relationship with CRT Inc. is essential to bringing these inhibitors from the hits to leads. They have been excellent to work with and I encourage other US academic institutions to consider partnering with them.”
Under the terms of the collaboration agreement CRT Inc. will be responsible for the commercialisation of the small molecule inhibitors and associated intellectual property rights arising from the discovery programme. Revenues generated following commercialisation will be shared between the parties.
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Contact
Cancer Research Technology Inc.
Dr Larry Steranka, Managing Director +1 617 621 1748
lsteranka@CancerTechnology.com
Notes to Editors
About Fox Chase Cancer Center
Fox Chase Cancer Center was founded in 1904 in Philadelphia as the nation's first cancer hospital. In 1974, Fox Chase became one of the first institutions designated as a National Cancer Institute Comprehensive Cancer Center. Fox Chase conducts basic, clinical, population and translational research; programs of prevention, detection and treatment of cancer; and community outreach. For more information about Fox Chase activities, visit the Center’s web site at www.fccc.edu or call 1-888-FOX CHASE.
About Cancer Research Technology Inc.
Cancer Research Technology Inc. (“CRT Inc.”) is an oncology-focused development and commercialisation company that realises cancer patient benefit from US not-for-profit research. CRT Inc. works closely with leading US cancer scientists and their institutes to protect, develop and commercialise oncology-related discoveries. CRT Inc. is wholly owned by Cancer Research Technology Ltd. Further information about CRT Inc. can be found at www.CancerTechnology.com.
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