NEW YORK, March 21 - Inpharmatica said Wednesday that Genentech of South San Francisco, Calif., has acquired a three-year non-exclusive subscription to Inpharmatica's Biopendium proteomic analysis system.
Under the terms of the multi-million dollar agreement, Inpharmatica of London, UK, will develop a customized version of Biopendium for Genentech by incorporating Genentech's proprietary genome sequence data into the platform.
Inpharmatica will receive subscription fees as well as research and clinical milestone payments and royalties on the development and commercialization of some products resulting from Genentech's use of Biopendium. Genentech will also take a minority stake in Inpharmatica.
Financial terms of the agreement were not disclosed, although David Ricketts, vice president of business development at Inpharmatica, said the quoted price for a three-year subscription to Biopendium is $5 million plus downstream fees and royalties.
"The Genentech deal is good for us in that we have some element of success payments as well as royalties," said Ricketts.
The deal marks the second subscription Inpharmatica has signed to Biopendium since it made the platform available last year. Pfizer Global Research was the first subscriber to the system.
"It's the second but it's certainly not the last," said Ricketts. He said that Inpharmatica would be closing several other subscription deals as well as drug discovery collaborations within the next few months.
Ricketts said that Inpharmatica hopes to balance its subscription business with drug discovery activities in the short term, but that in the long term the company would focus on discovery collaborations.