GlaxoSmithKline pays Synta for elesclomol milestones

GlaxoSmithKline has given $15 million (9.76 million pounds) in payments to Synta Pharmaceuticals under the partnership’s agreement.

The collaboration – for the development and commercialisation of elesclomol – was formed in October 2007.

It has seen Synta eligible for a total of $585 million in pre-commercial milestone payments, related to operational and clinical progress, regulatory filings and outcomes in melanoma and other cancer indications.

Elesclomol is an investigational first-in-class oxidative stress inducer, which causes apoptosis – programmed cell death – by increasing the level of oxidative stress.

It is currently in an ongoing phase III clinical trial by Synta.

Earlier this month, GlaxoSmithKline announced it was to collaborate with Shenzhen Neptunus Interlong Bio-Technique.

The joint venture is set to see a 60-40 split for the research and development, production and after-sales services of human influenza vaccines.

As a result of the agreement, the formed-subsidiary is to be called Shenzhen GSK-Neptunus Biologicals and is set to receive investments of $99.9 million, with equipment, real estate assets, technology and proprietary rights worth $47 million provided by Shenzhen Neptunus Interlong Bio-Technique.

GlaxoSmithKline employs 100,000 people in over 100 countries, of which 15,000 people work in product research.