Sunesis Pharmaceuticals Receives Milestone Payment From Biogen Idec
13 July 2009 - 10:00PM
PR Newswire (US)
SOUTH SAN FRANCISCO, Calif., July 13 /PRNewswire-FirstCall/ --
Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS), a biopharmaceutical
company focused on the development and commercialization of new
oncology therapeutics for the treatment of solid and hematologic
cancers, today announced that it has received a $1.5 million
milestone payment from Biogen Idec (NASDAQ:BIIB) for the selection
of a Raf kinase inhibitor development candidate for the treatment
of cancer. Biogen Idec is currently conducting IND-enabling GLP
preclinical work with the Raf kinase development candidate. "While
our internal efforts are focused on the successful development of
voreloxin, we are extremely pleased by the continued progress being
made by Biogen Idec to advance a Raf kinase inhibitor toward the
clinic," said Daniel Swisher, Sunesis' Chief Executive Officer. In
August 2004 the companies entered into a collaboration to discover
and develop small molecule cancer therapeutics targeting kinases, a
family of cell signaling enzymes that play a major role in the
progression of cancer. The research term of this collaboration
ended in June of 2008. Sunesis retains an option to participate in
the co-development and co-promotion of the Raf kinase inhibitor
resulting from this collaboration. About Sunesis Pharmaceuticals
Sunesis is a biopharmaceutical company focused on the development
and commercialization of new oncology therapeutics for the
treatment of solid and hematologic cancers. Sunesis has built a
highly experienced cancer drug development organization committed
to advancing voreloxin in multiple indications to improve the lives
of people with cancer. For additional information on Sunesis
Pharmaceuticals, please visit http://www.sunesis.com/. SUNESIS and
the logo are trademarks of Sunesis Pharmaceuticals, Inc. Investor
Contact: Media Contact: Sunesis Pharmaceuticals, Inc. Sunesis
Pharmaceuticals, Inc. Eric Bjerkholt Dan Weinseimer 650-266-3717
650-266-3739 DATASOURCE: Sunesis Pharmaceuticals, Inc. CONTACT:
Investors, Eric Bjerkholt, +1-650-266-3717, or Media, Dan
Weinseimer, +1-650-266-3739, both of Sunesis Pharmaceuticals, Inc.
Web Site: http://www.sunesis.com/
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