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Both Hydra Biosciences and Cubist Pharmaceuticals are US-based biopharmaceutical companies.
Under the terms of the agreement, Hydra will receive an upfront payment of $5 million from Cubist. Cubist will support Hydra's internal development on the TRPA1 program by providing $5 million in research and development funding per year for two years, with an option to renew. As the agreement progresses into potential future stages, Hydra is eligible for potential development milestones and royalties on products produced from the joint program.
Deal Type Partnership Sub-Category Research and discovery,Development Deal Status Announced: 2009-10-19
Deal Participants
Partner 1 (Company) Hydra Biosciences, Inc. Partner 2 (Company) Cubist Pharmaceuticals, Inc.
Deal Rationale
This agreement will enable Cubist to gain access to a novel platform for developing acute care therapeutics for the management of pain. This agreement will enable Hydra Biosciences to advance its pipeline for ion channel drugs for pain management.
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