FORMA Therapeutics Announces Collaboration with Boehringer Ingelheim to Develop Novel Oncology Drugs
Under the terms of the collaboration, FORMA will receive a total of $65 million in up-front payments and research funding to screen for and optimize compounds against multiple oncology targets over the next four years. FORMA could be eligible for up to $750 million in pre-commercial milestones for programs resulting from the collaboration. Further financial details were not disclosed.
“Many of the ‘un-druggable’ and/or novel targets in oncology involve protein-protein interactions,” said Kenneth Bair, Ph.D., Senior Vice President and Head of Research and Development of FORMA. “We are really excited about tackling these essential targets with Boehringer Ingelheim.”
“This creative deal provides Boehringer Ingelheim with access to our drug discovery capabilities in cancer but also offers FORMA and our shareholders several opportunities to realize early return through assets developed under this collaboration,” commented Steven Tregay, Ph.D., Chief Executive Officer of FORMA.