GSK signs oncology deal with UK biotech
pharmafile | May 18, 2009 | News story | Research and Development, Sales and Marketing | GSK, Oxford Biotherapeutics
GSK has struck a deal with Oxford BioTherapeutics to develop therapies for primary, metastatic and recurring forms of cancer.
The deal marks GSK's wider efforts to make a presence in oncology – an area in which it has no long-term heritage – and make use of Oxford BioTherapeutics' (OBT) expertise in discovery of oncology targets.
Christian Rohlff, chief executive of OBT, said the strategic alliance was an important validation of the firm's scientific expertise in cancer target discovery and would also broaden its antibody pipeline.
"In addition, we gain access to significant non-dilutive financing to support the development of our pipeline of fully human therapeutic antibodies which we believe have the potential to significantly impact clinically unmet needs in certain important cancer indications," he added.
Under the new alliance, GSK will develop novel antibody therapies against selected OBT targets. In parallel OBT will develop one of its own monoclonal antibodies, which GSK will have the option to license and assume responsibility for further development and commercialisation worldwide.
Financially, the new deal could see Oxford BioTherapeutics receive a total of up to £244 million in upfront and further payments based on the achievement of specified milestones.
In addition, OBT will receive double-digit royalties on sales of any product that it develops and single-digit royalties on worldwide sales of antibody products aimed at OBT targets that GSK markets.
Before a December 2008 name change the privately own British biotech was known as Oxford Genome Sciences.
Set up near Oxford in 2004, its other partners include companies such as Medarex, Biosite and Amgen. It also owns one of the world's largest proprietary human protein collections, including data on 5,000 cancer membrane proteins combined with highly disease relevant genomic and clinical information derived from human blood and cancer tissue studies.
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