GlaxoSmithKline (GSK) entered into a partnership with ChemoCentryx, to discover, develop, and market medicines targeting four chemokine and chemoattractant receptors for the treatment of inflammatory disorders, including Traficet-EN® in late-stage development for the treatment of inflammatory bowel disease (IBD). With this collaboration GSK gains access to selected targets from ChemoCentryx’ pipeline of chemokine-based therapeutics. The alliance will be conducted through GSK’s Center of Excellence for External Drug Discovery.
ChemoCentryx will receive an upfront payment of $63.5 million in cash and equity investment. In addition, ChemoCentryx will get research funding and will be eligible for milestones payments up to $1.5 billion, across six product options in the four targets. ChemoCentryx will also receive double-digit royalties on all collaboration product sales. In addition, GSK has the option to invest in ChemoCentryx’ common stock when it goes public.
