GSK Out-Licenses Two Drug Candidates To Boston Pharmaceuticals

Privately-held Boston Pharmaceuticals has announced a three-year out-license and option agreement with GlaxoSmithKline Plc GSK to advance pre-phase 2 programs. Initially, GSK will out-license and option two programs to Boston Pharmaceuticals:

  • GSK3903371, a monoclonal antibody targeting the Interleukin-1 Receptor Accessory Protein, a tumor-associated antigen driving tumor growth and immunosuppression.
  • GSK3502421, a small molecule inhibitor for potential neurological disorders, targets Receptor Interacting Serine/Threonine Kinase 1, a key component of the TNF-driven inflammation necroptosis pathway.
  • Under the agreement, Boston Pharmaceuticals will be responsible for the further development of select programs through proof-of-concept. Following the completion of these studies, GSK will have the option to reacquire each program under pre-agreed terms for subsequent development and worldwide commercialization.
  • If GSK exercises its repurchase option, Boston Pharmaceuticals will receive a one-time payment and be eligible for approval and sales milestones and royalties.
  • If GSK chooses not to reacquire a program, Boston Pharmaceuticals may continue developing and potential commercialization of the program. GSK will then be eligible to receive milestones and royalty payments.
  • Price Action: GSK shares are trading 0.36% higher at $36.48 in premarket trading on the last check Thursday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: BiotechNewsHealth CareContractsFDAGeneral
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!