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9/9/2010 7:59:50 AM
PALO ALTO, Calif., Sep 09, 2010 (BUSINESS WIRE) -- Anacor Pharmaceuticals today announced the establishment of a research agreement with Eli Lilly and Company to create and develop new therapeutics for animal health. The collaboration takes advantage of Anacor's boron chemistry platform and drug research capabilities with the goal of advancing innovative therapeutic compounds to fill significant unmet needs in both companion and food animals.
"We have demonstrated the productivity of Anacor's boron chemistry platform in human health by discovering and advancing six molecules into human clinical trials," said David Perry, Chief Executive Officer of Anacor Pharmaceuticals. "As a result of some of our work in human neglected diseases, we identified the opportunity to address unmet medical needs in animals as well. We look forward to a productive and successful collaboration with Lilly, and to making significant contributions to the animal health industry."
Under the terms of the agreement, Anacor and Lilly will collaborate to discover products for a variety of animal health applications. Anacor will receive an upfront payment and research funding during the term of the agreement. In addition, Anacor will be eligible to receive milestone payments contingent on achieving development and regulatory hurdles as well as commercial royalties on sales. Financial details were not disclosed.
About Anacor Pharmaceuticals
Anacor is a biopharmaceutical company focused on discovering, developing and commercializing novel small-molecule therapeutics derived from its chemistry platform. Anacor has discovered and is developing five clinical compounds, including its three lead programs: AN2690, a topical antifungal for the treatment of onychomycosis; AN2728, a topical anti-inflammatory PDE-4 inhibitor for the treatment of psoriasis and GSK 2251052, or GSK '052 (formerly referred to as AN3365), a systemic antibiotic for the treatment of infections caused by Gram-negative bacteria, which has been optioned for development by GlaxoSmithKline under the companies' research and development agreement. Anacor is also continuing to work on other systemic antibacterial therapeutics under this collaboration. For more information visit www.anacor.com.
Forward-Looking Statements
This press release may contain forward-looking statements that relate to future events and involve known and unknown risks, uncertainties and other factors that could cause actual levels of activity, performance or achievement to differ materially from those expressed or implied by these forward-looking statements. These statements reflect the views of Anacor as of the date of this press release with respect to future events and, except as required by law, it undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise after the date of this press release.
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