Anacor gets $15M from GSK

GlaxoSmithKline (NYSE: GSK) has obtained an exclusive licence to develop and commercialize an antibiotic derived from Anacor's boron chemistry platform. As a result, Anacor will receive $15 million and is eligible for further milestone payments and royalties on any future product sales. GSK is assuming responsibility for further development of the compound and any resulting commercialization.

In early stage studies, GSK2251052 (GSK '052) has shown robust activity against multi-resistant gram-negative bacteria with no cross resistance to existing classes of antibiotics. GSK '052 is being looked at as a potential treatment for complicated urinary tract infection, complicated intra-abdominal infections and hospital/ventilator-associated pneumonia (HAP/VAP).

"GSK '052 has an entirely novel mechanism of action with the potential to be the first new class antibacterial to treat serious hospital gram-negative infections in 30 years," says David Payne, VP of GSK's anti-bacterial drug discovery unit. "Our collaboration with Anacor has enabled the rapid progression of GSK '052, and we are excited about the opportunity to address the growing need for new treatments for serious hospital acquired infections."

GSK and Anacor entered into a worldwide strategic alliance for the discovery, development and commercialization of novel medicines for viral and bacterial diseases in October 2007. The alliance grants GSK access to Anacor's proprietary boron-based chemistry for use in four target-based project areas. Contingent on achieving certain milestones, Anacor is eligible to receive development and regulatory milestone payments of up to $84 million as well as commercial milestones and tiered double-digit royalties up to the mid-teens, which are dependent on sales achieved.

- read the Anacor release

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