NEW YORK (GenomeWeb News) – Canadian drug discovery firm Xenon said this week that it will collaborate with Genentech to discover and develop compounds and companion diagnostics for treating pain.
The pact could bring Burnaby, BC-based Xenon up to $646 million in total payments.
The agreement gives Genentech a non-exclusive license to develop and commercialize diagnostics developed under the collaboration and an exclusive license to compounds, Xenon said.
Xenon will receive an undisclosed upfront payment, research funding, and payments for research, development, and commercialization milestones, as well as royalties on sales of products resulting from the collaboration.
Xenon's discovery and development efforts focus on development of small-molecule therapies based on the genetic causes of metabolic, neurological, and cardiovascular diseases.