Plexxikon Inc. And Roche Enter Partnership To Develop Targeted Cancer Therapeutic Medicine PLX4032; Plexxikon To Receive Up To Approximately $660 Million
BERKELEY, Calif. & BASEL, Switzerland--(BUSINESS WIRE)--Plexxikon Inc. and Roche today announced they have entered into an agreement to develop and commercialize PLX4032, Plexxikon’s investigational targeted cancer therapy which selectively inhibits B-RafV600E, a mutated form of the BRAF kinase gene. The BRAFV600E gene has been associated with increased tumor aggressiveness and decreased survival in many types of cancers and is a common cancer-causing kinase gene. The BRAFV600E gene is found in approximately 70% of malignant melanomas and a large number of colorectal and thyroid tumors. PLX4032 may offer a new treatment modality for the estimated 100,000 cancer patients in the United States who carry the BRAFV600E gene. Plexxikon recently filed an Investigational New Drug (IND) application for PLX4032 and plans to initiate a Phase 1 clinical trial by the end of this year.