Thursday, April 28, 2011

FDA approves trials of OncoMed cancer drug, triggering $20M milestone

OncoMed Pharmaceuticals Inc. said Thursday that the U.S. Food and Drug Administration has accepted an Investigational New Drug filing for its cancer drug.
Redwood City-based OncoMed said it can now begin Phase I clinical testing of OMP-18R5, triggering a $20 million milestone payment from Bayer to OncoMed.

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