On March 13, 2006 Astex Therapeutics reported a new drug discovery collaboration with the University of Newcastle upon Tyne and Cancer Research Technology (CRT) (Press release, Cancer Research Technology, MAR 13, 2006, View Source [SID1234523398]). The collaboration will aim to identify small molecule inhibitors of the Fibroblast Growth Factor Receptor (FGFr) tyrosine kinase family suitable for treatment of diseases including multiple myeloma, prostate cancer and other tumour types in which FGFr signalling is deregulated. Under the terms of the agreement, Astex will provide funding to the University to support the development of model cell systems to test novel drug compounds being developed by Astex. The University and CRT are eligible to receive milestone payments as drug compounds resulting from the collaboration are successfully developed and commercialised by Astex. Further financial details were not disclosed.

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"This new collaboration builds on the experience in model cell systems and FGFr crystallography which was developed in an initial evaluation project with the University and CRT which we began in 2004. The new collaboration allows Astex to continue to access the unique expertise of the University in understanding the biology of FGFr as a novel drug target for the treatment of some of the most important cancers in humans", said Harren Jhoti, Chief Scientific Officer and Acting CEO.