Business & Tech
Stamford Biotech Firm's Deal Could Be Worth $1 Billion
Loxo Oncology will team up with pharmaceutical company Bayer to help get its cancer treatments to market.
STAMFORD, CT — Stamford-based Loxo Oncology has signed a deal with Bayer that would help get precision cancer medication to market.
Loxo will receive $400 million upfront and be eligible for another $450 million to help get the regulatory approvals, according to the Stamford Advocate.
The drugs Iarotrectinib and Loxo-195 work by focusing on tumor genetics instead of the tumor's location. They focus on treating cancers with tropomyosin receptor kinase gene fusions.
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