Glaxo in $350mln cancer deal with biotech specialist

British pharmaceuticals giant GlaxoSmithKline has agreed a $350-million deal with Adaptimmune to help develop and sell the biotechnology firm's cancer drugs, the companies said on Monday.

Adaptimmune announced in a statement that it has entered a "strategic collaboration" with GSK to "develop and commercialise novel cell-based therapies" in its lead clinical programme.

The biotech firm, which is based in Oxford, southern England and Philadelphia, has had success in trials in using T-cells, the heavy weaponry of the immune system, to target .

The GSK deal, worth the equivalent of 260 million euros could yield payments in excess of $350 million to Adaptimmune over the next seven years, according to the statement.

There would also be "significant" additional development and commercialisation payments in subsequent years, if GSK exercises all its options and milestones continue to be met.

Adaptimmune would also receive royalties ranging from single to double digits on net sales.

The statement added that trials in Adaptimmune's lead programme, in multiple myeloma, melanoma, sarcoma and ovarian cancer in the United States, are generating "encouraging" results. European trials are set to start shortly.

Monday's announcement meanwhile follows the collapse last week of US drugs giant Pfizer's $117-billion takeover offer for GSK's key British rival AstraZeneca.

It also comes after GSK agreed last month to sell its oncology business to peer Novartis for $16 billion and to buy the Swiss group's vaccines division.

add to favorites email to friend print save as pdf

Related Stories

Probe-hit GlaxoSmithKline announces profits slump

Apr 30, 2014

GlaxoSmithKline, the British drugs giant facing a series of probes into alleged staff corruption, announced sliding profits on Wednesday, one week after unveiling a group makeover.

GSK says sells thrombosis brands, French site

Sep 30, 2013

British drugs firm GlaxoSmithKline (GSK) said Monday that it has sold two thrombosis brands and a French plant to South African peer Aspen for £700 million ($1.13 billion, 834 million euros).

Recommended for you

Merck completes sale of consumer unit to Bayer

9 hours ago

Drugmaker Merck said Wednesday that it completed the sale of its consumer care business, which makes products including Claritin allergy medication and Coppertone sun-care line, to German health care company Bayer for $14.2 ...

Viagra ads target women for first time

Sep 30, 2014

The maker of the world's top-selling erectile dysfunction drug on Tuesday will begin airing the first Viagra TV commercial in America that targets the less-obvious sufferers of the sexual condition: women.

User comments