SINGAPORE and EMERYVILLE, Calif., May 4 /PRNewswire-FirstCall/ -- S*BIO Pte Ltd and Onyx Pharmaceuticals, Inc. (Nasdaq: ONXX) today announced the expansion of their development collaboration and option and license commercialization agreement for S*BIO's novel JAK2 inhibitors, SB1518 and SB1578, also known as ONX 0803 and ONX 0805, respectively. The expanded agreement builds upon the development and commercialization collaboration between the two companies announced in January 2009.
Onyx will provide $20 million in funding to broaden and accelerate the existing development program for both compounds. The program will be expanded to include new indications for hematologic malignancies and myeloproliferative disorders. S*BIO will continue to perform the clinical development of SB1518 (ONX 0803) and preclinical through clinical development of SB1578 (ONX 0805).
"We have made significant progress in the development of our novel JAK2 inhibitors and the new funding by Onyx further validates the strength of our collaboration and underscores the success of our joint programs," said Dr. Jan-Anders Karlsson, CEO of S*BIO. "Advancing SB1518 and SB1578 into new indications will generate greater value in our assets and is expected to expedite future commercialization."
"We believe these JAK2 inhibitors have potential as important cancer therapeutics, and it is to the advantage of patients affected by these diseases to accelerate and broaden their clinical testing into multiple hematologic and myeloproliferative disorders," said N. Anthony Col
SOURCE S*BIO Pte Ltd; Onyx Pharmaceuticals, Inc.
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