Sunesis Pharmaceuticals Enters Research and License Agreement With University of California, San Francisco
April 07 2006 - 8:30AM
PR Newswire (US)
SOUTH SAN FRANCISCO, Calif., April 7 /PRNewswire-FirstCall/ --
Sunesis Pharmaceuticals, Inc. (NASDAQ:SNSS) today announced that
the company has entered into a research and license agreement with
the University of California, San Francisco (UCSF). Under the terms
of the agreement, UCSF is granted a limited license to utilize
Sunesis' fragment-based drug discovery technology Tethering(R), for
academic purposes. UCSF intends to leverage Sunesis' technology to
identify novel small molecule drug candidates. In return, Sunesis
receives an exclusive royalty-free license to any improvements to
the Sunesis technology or fragment libraries that emerge from
UCSF's research. In the event that any small molecules are
discovered using Sunesis' technology, Sunesis will have a right of
first negotiation to in-license the compounds. UCSF is precluded
from utilizing the technology for commercial purposes and from
conducting research in the kinase field or on any other drug target
on which Sunesis is currently working. "Through this license we
have created a win-win arrangement between UCSF and Sunesis. The
arrangement enables Dr. James Wells, our founder who now heads up
the Small Molecule Discovery Center at UCSF, to extend the
application of Tethering into new areas of drug discovery, such as
the identification of novel sites and inhibitors of allosteric
sites on promising drug targets," said Daniel N. Swisher, Sunesis'
President and Chief Executive Officer. "We are excited that we will
continue to benefit from Dr. Wells' scientific creativity and
drive." About Sunesis Pharmaceuticals Sunesis is a clinical-stage
biopharmaceutical company focused on the discovery, development and
commercialization of novel small molecule therapeutics for oncology
and other serious diseases. Sunesis has built a broad product
candidate portfolio through internal discovery and in-licensing of
novel cancer therapeutics. Sunesis is advancing its product
candidates through in-house research and development efforts and
strategic collaborations with leading pharmaceutical and
biopharmaceutical companies. Forward-Looking Statements This press
release may contain forward-looking statements that involve
substantial risks and uncertainties. Sunesis may not actually
achieve the plans, intentions or expectations contained in such
forward-looking statements. Actual results or events could differ
materially from the plans, intentions and expectations contained in
such forward-looking statements. Sunesis does not assume any
obligation to update any such forward-looking statements. For
further information on Sunesis Pharmaceuticals, please visit
http://www.sunesis.com/ . DATASOURCE: Sunesis Pharmaceuticals, Inc.
CONTACT: investors, Eric Bjerkholt, CFO of Sunesis Pharmaceuticals,
Inc., +1-650-266-3717; or media, Karen L. Bergman, +1-650-575-1509,
or Michelle Corral, +1-415-794-8662, both of BCC Partners, for
Sunesis Pharmaceuticals, Inc. Web site: http://www.sunesis.com/
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