NEW YORK (GenomeWeb News) – Eisai and Forma Therapeutics on Wednesday announced a collaboration for use of Forma's screening technology to support new drug development in Eisai's pipeline.
Under the terms of the deal, the US subsidiary of Japanese drug manufacturer Eisai, will have non-exclusive access to Forma's Diversity Oriented Synthesis chemistry-generated compound library and cell-based screening platforms. Eisai also has a technology transfer option for Forma's cell-based screening platform.
In return, Forma will receive upfront payments and committed funding of $20 million over three years. It is also eligible for milestone payments and royalties on future products that Eisai commercializes based on the partnership.
In a statement, Steven Tregay, CEO of Cambridge, Mass.-based Forma, said the agreement provides the firm with "significant, additional financial flexibility to pursue our internal drug discovery and development programs in oncology."