Alanex Corp (NASDAQ:AGPH) in pact with Zeneca unit
Reuters, Thursday, June 18, 1998 at 13:29
LA JOLLA, Calif., June 18 (Reuters) - Pharmaceuticals giant
Alanex Corp. said Thursday it had entered into a three-year
research agreement with Zeneca Agrochemicals, the crop
protection and plant science business of English specialty drug
and chemical company Zeneca Group Plc (ISEL:ZEN).
Under terms of the agreement, Alanex, a wholly-owned
subsidiary of Agouron Pharmaceuticals Inc., will provide
compounds from its exploratory chemical libraries on a
nonexclusive basis for screening in Zeneca's high throughput
agrochemical assays, Alanex said in a statement.
Zeneca will have the right to exclusively license leads
that arise from the use of the Alanex screening libraries for
applications in agriculture, horticulture, forestry and public
health, while Alanex retains all human pharmaceutical and
animal health commercial rights.
In return, Alanex will receive an upfront license fee and
annual research support. The agreement also provides for
milestone and royalty payments to Alanex. Further financial
terms of the agreement were not disclosed.
Copyright 1998, Reuters News Service |
