GlaxoSmithKline and Epix Pharmaceuticals entered into a worldwide multitarget strategic collaboration to discover, develop, and market novel medicines targeting four GPCRs. Epix is entitled to an initial payment of $35 million and potential $1.2 billion in milestone-based payments.
Epix will be responsible for the discovery and development of small molecule drug candidates targeting four GPCRs, including the 5-HT4 partial agonist program, PRX-03140 for the treatment of Alzheimer's disease, through to clinical proof of concept. At this point GSK will have an exclusive option to license each product for further development and commercialization on a worldwide basis. Epix will receive tiered double-digit royalties on these sales. If GSK also exercises the option to license EPIX' 5-HT4, Epix will retain the right to co-promote any products from that program in the U.S.
The alliance with GSK will be conducted through its Center of Excellence for External Drug Discovery (CEEDD).