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FORMA Therapeutics, Inc. Cuts $815 Million Deal With Boehringer Ingelheim Corporation to Discover Cancer Drugs


1/5/2012 7:27:05 AM

WATERTOWN, Mass.--(BUSINESS WIRE)-- FORMA Therapeutics announced today that the Company has entered into a research and development collaboration with Boehringer Ingelheim to discover and develop novel drug candidates for the treatment of cancer. The agreement will focus on discovering small molecule drugs against oncology-relevant protein-protein interactions.

Under the terms of the collaboration, FORMA will receive a total of $65 million in up-front payments and research funding to screen for and optimize compounds against multiple oncology targets over the next four years. FORMA could be eligible for up to $750 million in pre-commercial milestones for programs resulting from the collaboration. Further financial details were not disclosed.

“Many of the ‘un-druggable’ and/or novel targets in oncology involve protein-protein interactions,” said Kenneth Bair, Ph.D., Senior Vice President and Head of Research and Development of FORMA. “We are really excited about tackling these essential targets with Boehringer Ingelheim.”

“This creative deal provides Boehringer Ingelheim with access to our drug discovery capabilities in cancer but also offers FORMA and our shareholders several opportunities to realize early return through assets developed under this collaboration,” commented Steven Tregay, Ph.D., Chief Executive Officer of FORMA.

About FORMA Therapeutics

FORMA Therapeutics targets essential cancer pathways to create transformative small molecule cancer therapies. FORMA’s novel approach to accessing high value drug targets, many of which pose significant challenges to conventional discovery approaches, leverages the integration of its innovative drug discovery technologies and oncology expertise, enabling efficient screening, discovery and rational development of small molecule drug candidates with qualified cellular mechanisms of action. FORMA is building a robust pipeline of cancer therapies in areas such as tumor metabolism, protein-protein interactions and epigenetics. FORMA is headquartered in Watertown, MA. www.formatherapeutics.com

Contact:

FORMA Therapeutics:

Steven Tregay, 617-679-1970

CEO

or

Media Inquiries:

MacDougall Biomedical Communications

Doug MacDougall, 781-235-3060

or

Jennifer Conrad, 781-235-3060

jconrad@macbiocom.com



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