Hydra, Cubist Seek New Pain Drugs

Luke Timmerman10/19/09

Cambridge, MA-based Hydra Biosciences said today it has formed a partnership with Lexington, MA-based Cubist Pharmaceuticals (NASDAQ: CBST) to develop new pain medications. Hydra will receive $5 million upfront, plus another $5 million annually for two years to support Hydra’s R&D, with an option to renew the partnership. The deal focuses on Hydra’s work on ion channel compounds, specifically drugs that interact with the TRPA1 receptor that’s thought be related to pain.

Luke Timmerman is the National Biotech Editor of Xconomy, and the Editor of Xconomy Seattle. E-mail him at ltimmerman@xconomy.com or follow him on Twitter at twitter.com/ldtimmerman.