Biofocus Receives EUR1.6m For Oncology Project

Biofocus has received EUR1.6m (GBP1.43m) in target acceptance payments for its oncology target discovery collaboration with Ortho Biotech Oncology, part of Janssen Pharmaceutica. In the two-year target discovery collaboration, initiated in January 2008, Biofocus performed assay development using cancer cells, target discovery with the Silenceselect adenoviral collection and target validation.

As part of the collaboration, Biofocus developed advanced cellular assays using high-content imaging and identified and validated novel drug targets for cancer areas with unmet medical need. The collaboration has been extended into 2010 to enable Biofocus to further develop complex screening assays for additional targets.

Biofocus may receive success-based payments of up to an additional EUR4.5m should certain downstream criteria be reached by Janssen.

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