GlaxoSmithKline and Oxford BioTherapeutics (OBT) inked a strategic alliance focused on the discovery, development, and commercialization of novel antibody therapeutics against solid tumors. The deal could bring OBT up to $370 million in up-front payments and discovery, development, regulatory, and commercialization milestones, in addition to sales royalties.
Through the collaboration, GSK will develop novel antibodies against selected OBT targets. OBT will also develop one of its own monoclonal antibodies through to clinical proof of concept, at which point GSK will have an exclusive option to license the product and take over subsequent development and commercialization worldwide.
“This strategic alliance provides important validation of our scientific expertise in cancer target discovery and broadens OBT’s antibody pipeline,” commented Christian Rohlff, the company’s CEO. “In addition we gain access to significant non-dilutive financing to support the development of our pipeline of fully human therapeutic antibodies, which we believe has the potential to significantly impact clinically unmet needs in certain important cancer indications.”