Epizyme Achieves Lead Candidate Selection Milestone in GSK Collaboration, Earning $2 Million Milestone
CAMBRIDGE, Mass., Feb. 27, 2014 /PRNewswire/ -- Epizyme, Inc. (NASDAQ: EPZM), a clinical stage biopharmaceutical company creating innovative personalized therapeutics for patients with genetically defined cancers, today announced the achievement of the lead candidate selection milestone for one of the histone methyltransferase (HMT) targets in the company's collaboration with GSK. This achievement triggers a milestone payment of $2 million and follows the announcement in January 2014 of the achievement of a development candidate milestone for another of the HMT targets in the collaboration, which earned Epizyme a $4 million milestone payment.
"Epizyme is a leader in the translation of the science of epigenetics into innovative personalized therapeutics for cancer patients," said Robert Copeland, Ph.D., Executive Vice President and Chief Scientific Officer, Epizyme. "This milestone reflects the power of our product platform to rapidly move from biological insights to novel therapeutic candidates."
"Our collaborations with leading pharmaceutical companies are an integral part of Epizyme's business strategy as we build an independent biopharmaceutical company that discovers, develops, and commercializes personalized therapeutics for cancer patients," said Jason Rhodes, President and Chief Financial Officer, Epizyme.
About Epizyme, Inc.
Epizyme, Inc. is a clinical stage biopharmaceutical company creating personalized therapeutics for patients with genetically defined cancers. Epizyme has built a proprietary product platform that the company uses to create small molecule inhibitors of a 96-member class of enzymes known as histone methyltransferases, or HMTs. HMTs are part of the system of gene regulation, referred to as epigenetics, that controls gene expression. Genetic alterations can result in changes to the activity of HMTs, making them oncogenic (cancer-causing). By focusing on the genetic drivers of cancers, Epizyme's targeted science seeks to match the right medicines with the right patients for a personalized approach to cancer treatment.
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SOURCE Epizyme, Inc.