SuperGen will receive $5 million up front and a $3 million equity investment.
SuperGen will receive $5 million up front and a $3 million equity investment from GlaxoSmithKline as part of a multiyear collaboration to discover and develop new cancer treatments based on epigenetic targets. The stock acquisition will be made at a premium to the market price, SuperGen says.
Total payments in the form of development and commercialization milestones could reach over $375 million, plus there will be tiered royalties. Under the terms of the deal, SuperGen will progress candidates through to early clinical proof of concept. GSK retains the option to further develop and commercialize resulting products worldwide.
SuperGen is dedicated to the discovery and development of novel cancer treatments based on epigenetic and cell-signaling modulation. The company’s lead compound, MP-470, is a multitargeted tyrosine kinase inhibitor and RAD51 suppressor. During August SuperGen reported positive preliminary results from Phase Ib trials evaluating the addition of MP-470 to carboplatin-containing standard of care in patients with small-cell lung cancer or neuroendocrine malignancies.