Biotech, deals, Pain
Hydra, Cubist Seek New Pain Drugs
Luke Timmerman 10/19/09
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 Biotechnology Editor for Xconomy. You can e-mail him at ltimmerman@xconomy.com, call 206-624-2374, or follow him on Twitter at http://twitter.com/ldtimmerman.
