Curis Announces Worldwide Licensing Rights for IAP Inhibitor GDC-0917 From Genentech
Curis (NASDAQ: CRIS), a drug development company seeking to develop next generation targeted small molecule drug candidates for cancer treatment, today announced that it has licensed from Genentech, a member of the Roche Group, (OTC: RHHBY), exclusive, worldwide rights for the development and commercialization of GDC-0917, a small molecule that is designed to promote cancer cell death by antagonizing inhibitor of apoptosis (IAP) proteins.
"We are very pleased to have entered into this agreement for GDC-0917, which adds depth to our current pipeline of proprietary targeted anti-cancer agents and further solidifies our relationship with our partner Genentech," said Dan Passeri, Curis' President and Chief Executive Officer. "Importantly, we anticipate that the $30 million non-dilutive royalty financing transaction that we also announced this morning will provide us with sufficient capital to progress GDC-0917 and our other programs to important development milestones."
"We value the relationship that we have with Curis, and Genentech is pleased to enter into