Abbott and Genentech announce oncology collaboration agreement

Abbott and Genentech have announced the formation of a research, development and marketing agreement relating to two novel anticancer agents from Abbott.

The companies will collaborate on all parts of the development and commercialisation of the compounds known as ABT-263 and ABT-869, with both firms co-promoting any resulting products in the US and Abbott responsible for all other worldwide promotion.

The financial terms of this partnership agreement have not been made public.

ABT-263 is a Bcl-2 family protein antagonist that restores apoptosis, a method by which unwanted cells are removed from the body, while ABT-869 is VEGFR-based multi-targeted kinase inhibitor that blocks vital angiogenic signalling pathways to prevent the growth of blood vessels and suppress tumour growth.

John Leonard, vice-president of global pharmaceutical research and development at Abbott, said: “We hope that the combination of Abbott’s scientific discoveries and Genentech’s proven experience in the oncology arena can help bring these promising anti-cancer compounds to patients.”

He added that considerable resources are necessary for the discovery and development of innovative medication, with the firm believing that this partnership will aid the company in its efforts to build up a market-leading franchise in the oncology field.

Earlier this month, Abbott reported the results of a survey showing the general public to be broadly optimistic regarding efforts by scientists to tackle cancer.