Monday, September 26, 2011

Millennium begins early-stage trial of Sunesis cancer drug

Millennium Pharmaceuticals Inc. started a Phase I safety trial of a solid tumor-fighting drug with South San Francisco’s Sunesis Pharmaceuticals Inc.
Although it has a limited number of patients, the trial is a big deal for Sunesis (NASDAQ: SNSS) because the agreement with Cambridge, Mass.-based Millennium includes milestone payments. Sunesis did not say if dosing of the first patient in the Phase I trial triggered a milestone, but CEO Daniel Swisher said the company is pleased to see that the project moved quickly into Phase I.

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