Friday, May 14, 2004

Syrrx Inks $178M Deal With Roche

San Diego-based Syrrx (www.syrrx.com) has signed a deal with drug maker Roche to develop drug candidates to treat cancer and type 2 diabetes. The strategic alliance calls for an upfront payment of cash and equity, and option payments which could total $178M if all product milestones are met. Syrrx is focused on structure-based drug discovery and development, and has identified a drug target targeted at the gene transcription ability of cancer, and another which may reduce the overproduction of a hormone linked to diabetes.