Archemix has inked a deal to collaborate with GlaxoSmithKline to develop new aptamer drugs. Archemix gets $27.5 million in upfront payments from GSK--including a $6.5 million equity investment. And the developer is eligible for up to $200 million in development, regulatory and sales milestone payments for each of seven aptamer therapeutics. Archemix would also receive tiered royalties up to lower double digits on worldwide sales of products that may result from the alliance.
"GSK is an outstanding partner with leadership and expertise in inflammation, and we look forward to expanding our efforts in inflammation where aptamers could offer novel options to treat disease," said Errol DeSouza, Ph.D., president and CEO of Archemix. "This is another step forward in our strategy to leverage our intellectual property estate together with our significant internal capabilities in order to develop aptamers for a variety of therapeutic areas with key partners who are experts in their field."
In the deal, Archemix will be responsible for the discovery and development of the aptamer therapeutics through completion of clinical proof of mechanism, unless GSK decides to exercise its option earlier. Aptamers are synthetically-derived oligonucleotides, or short nucleic acid sequences, that bind to protein targets with high affinity and specificity and can be designed to have a specified duration of action. Archemix, a 2007 Fierce 15 company, was recently featured by FierceBiotech as an Emerging Drug Developer.
- read the press release