Ignyta Seeks To Sell Off Development Program

San Diego-based biopharmaceuticals developer Ignyta said on Thursday afternoon that it is looking to sell of its taladegib oncology program, after reaching a deal to change licensing terms it has with Eli Lilly and Company. Ignyta said it is "exploring strategic options" for taladegib, as it shifts it focus to its molecular therapy program, entrectinib. Taladegib is aimed at potentially treating a number of rare cancers. Ignyta did not say how much it is looking to sell the program for.