Roche and Ambit to collaborate

Published: 26-Aug-2004

Roche, of Basel in Switzerland, and San Diego-based biopharmaceutical company Ambit Biosciences have entered into a multi-year collaboration.


Roche, of Basel in Switzerland, and San Diego-based biopharmaceutical company Ambit Biosciences have entered into a multi-year collaboration.

Roche will use Ambit's proprietary kinase screening platform to profile and select small-molecule kinase inhibitors, while Ambit will receive milestone payments and royalties on drugs developed through the collaboration.

'Combining Ambit's kinase profiling capabilities with our knowledge and experience in drug development will enable us to discover new drugs more quickly,' said Peter Hug, global head of Roche Pharma Partnering.

Additionally, Roche led a Series C round of financing that raised more than $21m. The Roche Venture Fund invests in early stage biotech and diagnostics companies to support innovative technologies and medicines.

  

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