Pharmaceutical company Boehringer Ingelheim and South San Francisco-based biotechnology company Circle Pharma on Wednesday announced a new research collaboration to develop a novel precision cancer treatment.

The companies aim to create a first-in-class cyclin inhibitor that can halt the growth of cancer cells.

Circle's macrocycle therapies offer a potential solution to the challenges of current cyclin-dependent kinase targeting methods.

Boehringer Ingelheim will provide funding to Circle Pharma for development of the treatment. Under the agreement, Circle Pharma will receive an upfront payment and potential development, regulatory and sales milestone payments of up to USD607m.