AstraZeneca and PTC Therapeutics are joining forces for cancer cures, using PTC's discovery/development technology platform, reported FierceBiotech. AZ will front an undisclosed amount of cash to work on the first oncology target.
The platform, Gene Expression Modulation by Small Molecules (GEMS), helps researchers develop small-molecule drugs that can increase or decrease the expression of a specific protein by targeting its regulatory mechanisms.
PTC is in line for "significant" milestone payments in the deal, under which AZ gets global commercialization rights. PTC retains an option to participate in the development of select candidates. AstraZeneca will pay tiered royalties on worldwide net sales.