Roche buys rights to preclinical stage oncology program from Galaxy Biotech

26 September 2012

Switzerland-based Roche (SIX: ROG), the world’s largest cancer drug company, has licensed exclusive worldwide development and commercialization rights to privately-held US firm Galaxy Biotech’s antibodies targeting fibroblast growth factor 2 (FGF2) for the treatment of cancer for an upfront payment of $8 million.

Under the terms of the agreement, Galaxy will also receive milestone payments contingent on various preclinical, clinical, and regulatory development events, as well as royalties on product sales.

Could also develop derivatives

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