CAMBRIDGE, Mass.--(BUSINESS WIRE)--Curis, Inc. (NASDAQ: CRIS), a drug development company focused on seeking to develop proprietary targeted medicines primarily for cancer treatment, today announced that its collaborator, Genentech, has notified Curis of its decision to progress a systemically administered Hedgehog antagonist drug candidate into Phase II clinical testing in the first half of 2008. The drug candidate will be evaluated in one or more solid tumor indications. Upon Phase II initiation, Curis will be eligible to receive additional cash milestone payments from Genentech under the parties’ June 2003 collaboration agreement. Should the current drug candidate successfully continue its development into subsequent stages of clinical testing and regulatory approval, Curis would be eligible to receive additional cash milestone payments. In addition, in the event the drug candidate is successfully commercialized, Curis would be eligible to receive royalties on product sales.
