Skip to main content
Premium Trial:

Request an Annual Quote

Microcide Spinoff Gains $12.5 Million Funding


MOUNTAIN VIEW, Calif.-- Microcide Pharmaceuticals here has formed Iconix Pharmaceuti cals, a chemical genetics company aimed at extending the company's microbial genomics research into a broader technology platform. The new entity has acquired a $12.5 million venture investment from Abingworth Management, Institutional Venture Partners, and Kleiner Perkins Caufield & Byers.

Microcide will hold approximately 35 percent of Iconix's equity. The two companies have entered into a series of agreements covering the transfer of certain technologies to Iconix and joint technology development in specific drug discovery areas. Microcide will also supply services and research support of $6.1 million to Iconix for the next three years. In exchange, Iconix will apply its chemical genomics technology to an antiviral drug discovery and development collaboration with Microcide and receive milestone payments of $11 million for the first product and $10.5 million for subsequent products, plus royalties on worldwide sales.

Microcide gains worldwide development, manufacturing, and marketing rights to antiviral products that result from the partnership. Keith Bostian, formerly Microcide's chief operating officer, will be Iconix's president and CEO. He will continue on Microcide's board and serve as a consultant to the company for two years. Abingworth's Hugh Rienhoff will serve as Iconix's chairman.

Filed under

The Scan

Self-Reported Hearing Loss in Older Adults Begins Very Early in Life, Study Says

A JAMA Otolaryngology — Head & Neck Surgery study says polygenic risk scores associated with hearing loss in older adults is also associated with hearing decline in younger groups.

Genome-Wide Analysis Sheds Light on Genetics of ADHD

A genome-wide association study meta-analysis of attention-deficit hyperactivity disorder appearing in Nature Genetics links 76 genes to risk of having the disorder.

MicroRNA Cotargeting Linked to Lupus

A mouse-based study appearing in BMC Biology implicates two microRNAs with overlapping target sites in lupus.

Enzyme Involved in Lipid Metabolism Linked to Mutational Signatures

In Nature Genetics, a Wellcome Sanger Institute-led team found that APOBEC1 may contribute to the development of the SBS2 and SBS13 mutational signatures in the small intestine.