GSK Signs On Chroma for Macrophage-Targeted Drug Development
Milestones and option fees could reach $1 billion.
GlaxoSmithKline (GSK) and Chroma Therapeutics are partnering to develop macrophage-targeted compounds using Chroma’s esterase-sensitive motif (ESM) technology through four programs. GSK will pay a up-front cash fee and invest in Chroma’s Series D equity financing.
Additionally, Chroma is entitled to receive up to $1 billion in milestones and option fees if all four programs are successful. GSK will also tender royalties on any commercialized product.
Chroma will work to identify small molecule therapeutics using ESM, which adds amino acid esters to compounds with the aim of targeting the compounds to specific cells in the inflammatory disease process. The company will have responsibility for R&D activities through completion of clinical proof of concept studies.
GSK may elect to obtain an exclusive, worldwide license to candidates within the program after such studies are completed or before upon request. Chroma will retain full rights to further develop and commercialize any candidate arising from this collaboration that GSK chooses not to license.
♦♦♦ Related GSK News GSK and Oxford BioTherapeutics Ink Oncology Antibody Therapeutics Deal (May 18, 2009) GSK Nixes $1B Cancer Deal with Synta (June 15, 2009) GSK Taps Biotica for Drug Research in Inflammatory Diseases (Jan. 12, 2009) GSK Coughs Up $27.5M Upfront in Billion-Dollar Inflammation Deal with Archemix (Dec. 23, 2009) GSK Pays $10M Upfront for Access to Dynavax Technology (Dec. 17, 2008)