Date: 2013-07-22
Type of information: Milestone
Compound: new medicines targeting G protein-coupled receptors (GPCRs)
Company: Heptares Therapeutics (UK) Cubist Pharmaceuticals (USA - MA)
Therapeutic area: undisclosed
Type agreement: R&D
Action mechanism: new medicines targeting G protein-coupled receptors (GPCRs)
Disease: undisclosed
Details: * On January 7, 2013, Heptares Therapeutics, a leading GPCR drug discovery and development company, has announced they have signed an agreement with Cubist Pharmaceuticals to collaborate on the research and discovery of new medicines targeting G protein-coupled receptors (GPCRs), which are membrane proteins involved in a broad range of biological processes and diseases.
Under the terms of the agreement, Cubist will receive exclusive worldwide rights to research, develop and commercialize products generated from the collaboration. The collaborative research will focus on up to two GPCR drug targets to be selected by Cubist. For the first target, Heptares will receive $5.5 million upfront and up to approximately $4 million in research funding plus milestones and royalties. Cubist also has the option to nominate a second GPCR target at a later point in the collaboration, which Heptares has agreed to work on according to pre-determined financials. Further terms of the agreement are not disclosed.
Financial terms: For the first target, Heptares will receive $5.5 million (USD) upfront and up to approximately $4 million in research funding plus milestones and royalties.
Latest news: * On July 22, 2013, Heptares has announced it has achieved the first research milestone in its collaboration with Cubist Pharmaceuticals, which was announced in January 2013. The milestone is based on the generation of a stabilised (StaR®) form of a GPCR target selected by Cubist, a key step that will enable the structure of the target to be elucidated and a full structure-based drug design (SBDD) programme to be launched. Cubist will make an undisclosed payment to Heptares as a result of this research milestone being achieved. Under the terms of the agreement, the collaboration is focusing on up to two GPCR drug targets to be selected by Cubist. Heptares has already received US$5.5 million upfront for the first target, and is eligible to receive up to approximately US$4 million in research funding plus milestones and royalties. Cubist also has the option to nominate a second GPCR target at a later point in the collaboration, which Heptares has agreed to work on according to pre-determined financials.
