Glaxo forges $370M pact with Oxford BioTherapeutics

GlaxoSmithKline has committed up to $370 million for a new deal designed to bolster its presence in the cancer market.

The pharma giant announced a drug development pact with Oxford BioTherapeutics to discover, develop and commercialize new  therapeutic antibodies for the treatment of primary, metastatic and recurring forms of cancer. OBT gets an undisclosed upfront and the rest in milestones.

"We are extremely pleased to be collaborating with GSK given their proven commitment to innovation and their expertise in the development and commercialization of novel oncology medicines," said Christian Rohlff, CEO of OBT.

- check out the press release

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