Vaccinex, Inc. Antibody Licensed to GlaxoSmithKline
Published: Feb 13, 2008
According to the terms of the product license, GSK will pay an up-front license fee, development milestones, and royalties on product sales to acquire the exclusive world-wide rights to develop and commercialize OP-R003 for the treatment of rheumatoid arthritis and other disease indications. Vaccinex will share 50% of fees, payments and royalties. The antibody was discovered by Vaccinex utilizing its ActivMAb® antibody discovery technology and first licensed for co-development by EUSA Pharma (formerly OPi SA).
“We are pleased that our collaboration in the discovery and co-development of OP-R003 has attracted such a world-class partner as GSK. Together with previously announced antibody partnerships with Biocon, Ltd. and Teva Pharmaceutical, this transaction further validates the quality of human antibodies selected with Vaccinex’s ActivMAb® antibody discovery technology,” remarked Dr. Maurice Zauderer, Vaccinex’s President and CEO.
Commenting on the acquisition, Brian McVeigh, GSK’s Worldwide Business Development Director of M&A Strategy and Transactions, said, “Interleukin-6 is increasingly recognized as an important biological target in a range of diseases, and consequently OP-R003 has great potential to meet a number of unmet medical needs.”
Vaccinex, Inc. is a biotechnology company engaged in the discovery and development of human monoclonal antibodies and other biologics to treat a variety of serious illnesses, including autoimmune disease, inflammation, multiple sclerosis, and cancer. The company's patented ActivMAb® technology allows for the direct selection of high affinity, fully human monoclonal antibodies that would be difficult or impossible to identify using other systems. Vaccinex, on its own or with its partners, has advanced several antibodies from discovery and lead validation into IND-directed pre-clinical drug development. The company is headquartered in Rochester, NY, USA. For more information, please visit www.vaccinex.com.
Raymond E. Watkins, Vice President of Operations & Officer Vaccinex, Inc. +1.585.271.2700 Ext. 105 E-mail: firstname.lastname@example.org