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Five Prime Therapeutics, Inc. Announces Milestone From Centocor Research And Development, Inc. for Therapeutic Program


2/24/2010 10:07:10 AM

SAN FRANCISCO--(BUSINESS WIRE)--Five Prime Therapeutics, Inc. today announced it received a milestone payment from Centocor Research & Development, Inc. for the selection of a therapeutic that will be pursued for immunology-related indications. Under the collaboration, FivePrime identified multiple potential therapeutic targets through screening its comprehensive proprietary protein library in cell-based assays that were focused on therapeutic pathways underlying specific immune and inflammatory disorders. The therapeutic candidate is directed against one of the targets identified in these screens. Centocor received exclusive development and commercial rights to the selected target in connection with its therapeutic candidate, and FivePrime will receive future milestone payments and royalties contingent upon the clinical success and commercialization of the therapeutic candidate. FivePrime received the rights to all other potential therapeutic targets not selected by Centocor from the research program.

Read at BioSpace.com

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