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Home Industry News GlaxoSmithKline to ally with Genmab on drug development

GlaxoSmithKline to ally with Genmab on drug development

6th July 2010

GlaxoSmithKline has agreed a deal with biotechnology firm Genmab, which will see the two firms collaborate on developing a versatile new drug.

The agreement will see GlaxoSmithKline take responsibility for the development of Genmab’s drug ofatumumab for autoimmune applications, with phase II studies currently being planned.

In addition, the firms will be working together on a further programme to develop the drug for potential oncology indications.

The deal will involve an upfront payment of 90 million pounds being paid to Genmab, with further payments to be received by the company depending on the accomplishment of certain milestones.

Ian Tomlinson, senior vice-president of biopharmaceutical research and development at GlaxoSmithKline, said: “GlaxoSmithKline’s growing biopharmaceutical capabilities coupled with our deep therapy area expertise will greatly facilitate the development of ofatumumab in these indications.”

Earlier this week, GlaxoSmithKline announced the creation of a new operating unit, which will focus on providing access to medicines among poorer countries.

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