InNexus partners with Spanish company on cancer drugs
Phoenix Business Journal - by Angela Gonzales
Media
InNexus Biotechnology Inc. has signed a letter of intent to team with a biopharmaceutical company in Spain to develop cancer-fighting drugs.
That deal — along with recent approval from the U.S. Food and Drug Administration to manufacture its own drugs for human cancer testing — will help double the Scottsdale-based company’s work force to about 40 by next year.
The research and licensing deal between InNexus and Genhelix Biopharmaceutical Co. is expected to be completed later this year. Under the agreement, InNexus will develop the drugs and Genhelix will manufacture them.
InNexus’ technology enhances naturally occurring proteins called antibodies. It basically helps antibodies gang up on cancer cells so they are more powerful against the disease.
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