GlaxoSmithKline has splashed out on two new deals this week aimed at expanding its cancer and anti-infective portfolios.
The group has partnered with US group OncoMed to buy access to its extensive library of monoclonal antibodies for up to $1.4 billion, depending on the achievement of certain discovery, development, regulatory and commercial milestones. The latter also stands to receive double-digit royalties on all product sales generated under the alliance.
The deal allows GSK to licence up to four drug candidates directed at multiple cancer stem cell targets, including Galapagos’ lead candidate, OMP-21M18, which is scheduled to enter clinical testing next year.
News of the collaboration came hot on the heels of its deal with Belgian group Galapagos to discover and develop new anti-infectives directed towards unmet medical needs in hospital or community-acquired bacterial infections plus life-threatening viral diseases.
Under the partnership, the Mechelen-based firm is responsible for the discovery and development of natural product small molecule drug candidates through to ‘proof of concept’ in clinical trials, at which point GSK has the exclusive option to license each compound for further development and global commercialisation.
In return, Galapagos will receive up to 3.5 million euros in technology access fees and up to 215 million euros in development and commercial milestones, as well as double-digit royalties on any resultant sales.
Staff reshuffle
In other news at GSK, David Stout, president of pharmaceuticals, will leave the company in February under the ongoing restructure at the drug giant, after missing out on the chief executive position.
In addition, it was announced that Chris Viehbacher, head of US pharmaceuticals, is joining the board, alongside Andrew Witty, who was named CEO-designate in October, effective from May 2008, while Eddie Gray, currently head of the UK business, will take over his role as president of European pharmaceuticals.
