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21 Dec 2010

EpiTherapeutics and Abbott enter into oncology collaboration

EpiTherapeutics and Abbott today announced a collaboration agreement to develop new anti-cancer drugs by making small-molecule inhibitors against selected epigenetic oncology targets. Under the terms of the agreement EpiTherapeutics receives an up-front payment and will receive funding of research activities at EpiTherapeutics. Further, EpiTherapeutics is eligible, under certain conditions, to receive milestone payments as well as potential royalties on future revenues. Additional financial details were not disclosed.

The collaboration agreement runs for three years. Research activities will be conducted at both EpiTherapeutics and Abbott.

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