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|Presage Biosciences and Millennium Enter Into Cancer Research Agreement|
‐‐ Utilizes Presage Platform for Selection & Optimization of Oncology Drug Candidates --
SEATTLE, Wash. and CAMBRIDGE, Mass. – April 6, 2012 – Presage Biosciences, a leader in identifying clinically viable oncology drug combinations, today announced that it has entered into a cancer research agreement with Millennium: The Takeda Oncology Company. The research agreement will provide Millennium with access to Presage’s proprietary technology platform to enable non-clinical identification of effective novel oncology drug combinations in solid tumors.
Under terms of the agreement, Presage will receive upfront fees and research funding as well as development and regulatory milestones related to identification of successful drug combinations.
The patented Presage platform is the only known technology that allows for the comparison of multiple drugs in the same tumor within a preclinical model. The technology has potential for application across the drug development process, from target identification to clinical trial patient selection.
“One of Millennium’s goals is to advance the treatment of cancer by developing novel therapeutic combinations,” said Joseph B. Bolen, Ph.D., Chief Scientific Officer, Millennium. “Presage’s technology platform allows us to obtain in-depth non-clinical in vivo data that is typically difficult to gather by conventional approaches. It is our hope that the Presage platform will help us to more rapidly and accurately prioritize our development of novel combinations.”
“The Presage platform provides previously inaccessible knowledge about interactions between drugs and living tumors, allowing for the selection and optimization of promising drug combinations much earlier in the drug development process,” said Nathan Caffo, President of Presage Biosciences. “We are pleased to establish this partnership with Millennium, a leader in truly innovative oncology research, to identify drug candidates for treatment of solid tumor cancers”
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