AstraZeneca licenses Cyclacel tech for $12M

AstraZeneca has signed an agreement with Cyclacel under which it willpay the latter $12 million for the rights to develop its CYC103 research-stage genomic target program. The aim is to develop macromolecular substrate inhibitors that are directed against the cyclin binding groove, which is targeted by the body's own tumor suppressor genes. Resulting drugs will mimic these anticancer genes which stop the cell cycle and cause cells to commit suicide.

Cyclacel will focus on developing peptidomimetic inhibitors while AstraZeneca will focus on high-throughput screening, as well as undertaking preclinical and clinical development of candidate drugs. Under the agreement, Cyclacel will receive upfront fees and milestone payments totalling $12 million, and royalties based on sales of an approved product.