Astex to return epigenetics project to GSK

Astex Pharmaceuticals (Nasdaq: ASTX) says that the multi-year collaboration to discover cancer therapeutics based on epigenetic targets entered into by SuperGen (which acquired then UK-based Astex Therapeutics last year (The Pharma Letter April 8, 2011) and UK pharma giant GlaxoSmithKline (LSE: GSK) in 2009 is being terminated and existing research work and assets generated under the CLIMB epigenetic collaboration will be transferred to GSK.

California, USA-based SuperGen has entered into a multi-year collaboration with GSK to discover and develop cancer therapeutics based on epigenetic targets (TPL October 27, 2009). In connection with the transaction, SuperGen $5 million upfront, with total potential development and commercialization milestones payable to SuperGen which could exceed $375 million, in addition to the potential for tiered royalties into double digit magnitudes, payable on net sales of any resulting products.

In its announcement yesterday, Astex says it will have no further obligation to conduct additional research work on the program. This decision follows on from the review and rationalization of Astex’ internal pipeline and drug discovery programs as part of the merger of Astex Therapeutics and SuperGen to create Astex Pharmaceuticals, and discussions with GSK.