GSK and NanoBio Announce Licensing Agreement
Next Advance in the treatment of cold sores
Deal strengthens a key OTC franchise
Parsippany, New Jersey and Ann Arbor, Michigan--December 16, 2009----GlaxoSmithKline plc (GSK) and NanoBio Corporation today announced an exclusive licensing agreement in the United States and Canada for the over-the-counter (OTC) use of NB-001, a novel, patented compound representing the next advance in the treatment of cold sores. Developed by NanoBio, NB-001 provides significant antimicrobial activity against the virus that causes cold sores, herpes labialis.
Cold sores are a prevalent condition affecting approximately 25% of the adult population in the US. In the recent five-year period, the cold sore category compound annual growth rate was +2%. In the same period, GSK has established Abreva® as the leading cold sore treatment with a 55% share. Abreva is the only OTC medicine approved by the US Food & Drug Administration that is proven to shorten cold sore healing time.
NanoBio has completed two Phase 2 clinical trials of NB-001, demonstrating clear efficacy and safety in patients and plans to enter Phase 3 testing soon.
Under the terms of the agreement, NanoBio will receive an upfront payment of $14.5 million, and is eligible to receive additional milestone payments of up to $40 million plus single digit royalties on future sales.
"I am pleased to announce this partnership with GSK as it will enable the development and commercialization of NB-001 to its fullest potential," said James R. Baker, Jr., MD, NanoBio's CEO and founder. "GSK's demonstrated leadership in developing and marketing consumer healthcare products, including the leading product for the treatment of herpes labialis, makes them the ideal partner for NB-001. On a broader scale, this partnership further validates the promise of our proprietary platform technology, and its potential use in a wide range of dermatological and anti-infective applications."
Roger Scarlett-Smith, President, GSK Consumer Healthcare North America noted, "We are always looking for innovations that bring value to the consumer. This agreement with NanoBio strengthens our leadership position in the cold sore category. With Abreva, we have the most effective cold sore treatment in the category and look forward to building on that platform with this new technology from NanoBio."
NanoBio® Corp. is a privately held biopharmaceutical company focused on developing and commercializing dermatological products, anti-infective treatments and intranasal vaccines derived from its patented NanoStatTM technology platform. The company's lead product candidates are treatments for herpes labialis (cold sores), onychomycosis (nail fungus), acne, cystic fibrosis and a broad platform of intranasal vaccines. The company's headquarters and laboratory facilities are located in Ann Arbor, Michigan.
GlaxoSmithKline - one of the world's leading research-based pharmaceutical and consumer healthcare companies - is committed to improving the quality of human life by enabling people to do more, feel better and live longer. For further information please visit www.gsk.com
GlaxoSmithKline Consumer Healthcare is one of the world's largest over-the-counter consumer healthcare products companies. Its more than 30 well-known brands include Abreva, the leading smoking cessation products, Nicorette®, NicoDerm®CQ® and Commit®, as well as many medicine cabinet staples -- alli®, Aquafresh®, Sensodyne®, Breathe Right, and TUMS®-- which are trademarks owned by and/or licensed to GlaxoSmithKline Group of Companies.
About NanoBio
NanoBio Corporation is a privately held biopharmaceutical company focused on developing and commercializing dermatological products, anti-infective treatments and intranasal vaccines derived from its patented NanoStatTM technology platform. The company's lead dermatology and anti-infective product candidates include treatments for herpes labialis (cold sores), onychomycosis (nail fungus), tinea capitis, acne, molluscum contagiosum, and cystic fibrosis. The company's headquarters and laboratory facilities are located in Ann Arbor, Michigan. NanoBio is a spin-off from the University of Michigan and holds the exclusive global license to the nanoemulsion platform technology.