Onyx enter strategic alliance focused on advancing drug discovery and development

US biotech firm Onyx Pharmaceuticals (Nasdaq: ONXX) and the University of California, San Francisco (UCSF) Helen Diller Family Comprehensive Cancer Center have formed the Oncology Innovation Alliance (OIA), a public-private partnership focusing on the discovery and development of novel therapies and their potential role in treating various types of hematologic cancers and solid tumors.

A joint steering committee comprised of representatives from Onyx and UCSF will provide oversight of the alliance. The term of the agreement extends for three years. Financial terms of the collaboration were not disclosed.

“This collaboration will leverage expertise across UCSF and Onyx to further our collective understanding of cancer and hopefully translate scientific research rapidly from the laboratory to the clinic and, ultimately, to patients,” said Pablo Cagnoni executive vice president, global R&D and technical operations at Onyx, adding: “The UCSF Helen Diller Family Comprehensive Cancer Center is a recognized leader in oncology research and patient care, and Onyx is committed to forming strategic alliances that encourage innovation and the advancement of new treatments for patients.”