AstraZeneca returns oncology programme rights to Infinity

Executive Summary

AstraZenecahas returned the rights to Infinity Pharmaceuticals' Hsp90 inhibitor programme after reviewing the products' potential and weighing up competing R&D investment priorities. The programme includes IPI-504 (retaspimycin hydrochloride for injection), which is currently in Phase III registration trials for patients with refractory gastrointestinal stromal tumours and oral IPI-493, which is in a Phase I study in patients with advanced solid tumours. Infinity will continue to develop the two products as it believes that with a prospective first-to-market Hsp90 inhibitor in late-stage development it can accelerate the timeframe for the company to achieve a meaningful commercial presence, Adelene Perkins, president and chief business officer, said. AstraZeneca will continue to fund an amount equivalent to its share of the Hsp90 programme costs for the next six months and Infinity will pay royalties on future net sales of IPI-504 and IPI-493. AstraZeneca acquired the worldwide rights to the two products when it acquired MedImmunelast year. MedImmune previously acquired the rights in August 2006.