In what could turn out to be one of the largest drug deals of 2006, U.S. biotech firm ChemoCentryx, Inc., stands to enjoy a $1.5 billion paydayif it meets targets in developing and marketing its new oral treatments for inflammatory diseases. And that’s not including royalties on sales revenue.
In late August, ChemoCentryx and London-based pharmaceutical giant GlaxoSmithKline Plc signed an agreement to develop drugs for a range of diseases in which the body comes under assault by its own immune system. ChemoCentryx devises treatments to address a malfunction in the body’s release of chemokinesproteins that normally direct white blood cells to attack foreign bodies. Occasionally, chemokines ignite an excessive immune response that damages organs, or they mistakenly direct white blood cells to attack healthy tissue.
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