Inotek and Genetech sign R&D deal

USA-based drugmaker Inotek Pharmaceuticals says that it has entered into a partnership with fellow US firm Genentech, to develop a range of novel cancer therapeutics. Specifically, the project will aim to develop and commercialize inhibitors of the enzyme pol (ADP-ribose) polymerase. Under the terms of the deal, Genentech will make an upfront payment of $20.0 million to Inotek, in a collaboration that could earn the Beverly, Massachusetts-headquartered company $405.0 million, depending on the achievement of developmental and regulatory milestones, and potential royalty payments from any resulting products.