Archemix has to discover and develop aptamers against seven targets.
Archemix will earn $27.5 million upfront to help GlaxoSmithKline advance its inflammatory diseases program. Archemix is tasked with discovering aptamers against seven specified targets and could make a total of $1.4 billion in milestones.
The initial $27.5 million fee includes a $6.5 million equity investment. Archemix is also eligible to up to $200 million in development, regulatory, and sales milestones for each of the seven aptamer therapeutics that are discovered and developed. GSK will also pay tiered royalties up to lower double digits on worldwide sales.
The alliance leverages Archemix’ expertise and intellectual property position in the discovery and development of aptamer therapeutics. The company will be responsible for the discovery and development through completion of clinical proof of mechanism, unless GSK chooses to exercise its option earlier. Once it exercises the option, GSK will have an exclusive license to drug product candidates developed under each program on a worldwide basis. Archemix will retain rights to all therapeutics that GSK chooses not to develop or commercialize.
“This innovative multitarget drug discovery deal is an important extension of our externalization strategy and provides GSK with an outstanding opportunity to work with the world leader in aptamer discovery and development,” points out Jose Carlos Gutierrez-Ramos, Ph.D., svp and head of the Immuno-Inflammation Centre of Excellence for Drug Discovery in GSK.