Infinity Announces Amended PI3K-Delta,Gamma Agreement with Millennium
Infinity Pharmaceuticals (NASDAQ: INFI) today announced that the
company amended its development and license agreement with Millennium:
The Takeda Oncology Company and Takeda Pharmaceutical Company Limited
(TSE:4502) for Infinity's phosphoinositide-3-kinase (PI3K) program.
Under the amended agreement, Infinity continues to retain full worldwide
rights to IPI-145, a potent, oral inhibitor of PI3K-delta and
PI3K-gamma, as well as worldwide rights to any future product candidates
targeting PI3K-delta and/or PI3K-gamma, and Millennium remains entitled
to receive success-based milestones and tiered royalties on future
worldwide sales of products covered by this agreement. In exchange for
Infinity's one-time payment of $15 million, Millennium waived its right
to opt into a 50-50 U.S. profit and loss-sharing arrangement in the U.S.