GlaxoSmithKline, ITeos Therapeutics Team Up to Develop Immuno-Oncology Drug
June 14 2021 - 7:22AM
Dow Jones News
By Adria Calatayud
British pharmaceutical giant GlaxoSmithKline PLC and U.S.
biotech company iTeos Therapeutics Inc. said Monday that they have
reached an agreement to develop and commercialize an
immuno-oncology drug in a deal worth up to $2.08 billion.
Under the deal, GSK will pay $625 million upfront to iTeos, with
up to an additional $1.45 billion in milestone payments if the drug
achieves certain development and commercial goals, the companies
said.
GSK and iTeos said they will share responsibility and costs for
the global development of the drug and will jointly commercialize
and equally split profits in the U.S. Outside of the U.S., the
British company will get an exclusive commercialization license and
iTeos will receive royalty payments, they said.
The drug, called EOS-448, is a monoclonal antibody currently in
phase 1 development as a potential treatment for patients with
cancer, the companies said. The drug targets and blocks an immune
checkpoint called TIGIT, which is a key inhibitor of anti-tumor
responses.
GSK and iTeos said they will explore next-generation
immuno-oncology agents through combinations to evaluate their
potential to treat different cancers. The companies plan to start
with combination studies of EOS-448 with GSK's recently-approved
Jemperli, a first-generation immuno-oncology therapy, in 2022.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
June 14, 2021 07:14 ET (11:14 GMT)
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