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

Seaweed menace may yield new medicines

17 hours ago

An invasive seaweed clogging up British coasts could be a blessing in disguise. University of Greenwich scientists have won a cash award to turn it into valuable compounds which can lead to new, life-saving drugs.

Supercomputers link proteins to drug side effects

Oct 20, 2014

New medications created by pharmaceutical companies have helped millions of Americans alleviate pain and suffering from their medical conditions. However, the drug creation process often misses many side ...

User comments