PTC Teams With AstraZeneca

Xconomy New York — 

South Plainfield, NJ-based PTC Therapeutics entered into an exclusive licensing agreement with AstraZeneca (NYSE: AZN) for PTC’s technology, called GEMS (gene expression modulation by small molecules), according to a press release. The GEMS technology is designed to identify compounds that target particular regions of messenger RNA molecules. The collaboration is geared towards discovering new remedies for cancer and other diseases. The agreement includes an undisclosed up-front payment, plus future payments that will hinge on research, development, regulatory and commercial milestones.