Tuesday, September 6, 2011

GSK returns rights to 3 Anacor drug targets, expands deal on another

GlaxoSmithKline plc will return the rights to three drug targets to Anacor Pharmaceuticals Inc. but pay $5 million up front as it expands the deal around drugs zeroing in on a bacterial enzyme, malaria and tuberculosis.
Palo Alto-based Anacor (NASDAQ: ANAC) said the new deal could land another $11.3 million in milestone and research funding by the end of 2012.

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