GlaxoSmithKline makes further Epizyme milestone payment

GlaxoSmithKline (GSK) has made a further $2 million (£1.2 million) payment to US biotechnology company Epizyme after its experimental cancer drug achieved a further selection milestone. 

Last month, shares in Epizyme soared after it revealed the treatment had performed well enough to trigger a payment from Celgene. 

The company has today (February 27th) announced the achievement of a lead candidate selection milestone for one of the histone methyltransferase targets in its collaboration with GSK.

As a result, a further payment of $2 million has been made by the British pharmaceutical giant and this follows a development candidate milestone and $4 million reward in January.

Robert Copeland, executive vice-president and chief scientific officer at Epizyme said: "This milestone reflects the power of our product platform to rapidly move from biological insights to novel therapeutic candidates."

The company's president Jason Rhodes said collaborations within the biopharmaceutical industry form an integral part of its strategy to discover and develop treatments for cancer patients.