GlaxoSmithKline Invests $50 Million in Biotech Startup's Cell-Therapy Program

Date : 02/20/2020 @ 10:29AM
Source : Dow Jones News
Stock : GlaxoSmithKline PLC (GSK)
Quote : 37.53  -0.38 (-1.00%) @ 11:37PM
After Hours
Last Trade
Last $ 37.53 ◊ 0.00 (0.00%)

GlaxoSmithKline Invests $50 Million in Biotech Startup's Cell-Therapy Program

GlaxoSmithKline (NYSE:GSK)
Historical Stock Chart

2 Months : From Feb 2020 to Apr 2020

Click Here for more GlaxoSmithKline Charts.

By Carlo Martuscelli

 

Clinical-stage biotechnology business Immatics said Thursday that GlaxoSmithKline will license two of its T-cell therapy candidates being developed to treat cancer for a $50 million upfront payment.

Under the terms of the agreement, Glaxo will be responsible for developing, manufacturing and commercializing the investigative treatments. Immatics said that, in addition to the award upfront, is eligible for over $550 million in development, regulatory and commercial payments for each product, plus royalties.

The collaboration deal also includes the option for the British pharmaceutical company to license additional candidates. German biotech startup Immatics said that it is developing treatments that uses natural or engineered T-cells, a kind of immune cell, to fight solid tumors.

This latest deal brings Glaxo's cell-therapy pipeline up to six assets, from four previously. In Europe there are currently two approved cell-therapy products, both to treat certain blood cancers, developed by drug makers Gilead Science and Novartis.

 

Write to Carlo Martuscelli at carlo.martuscelli@wsj.com; @carlomartu

 

(END) Dow Jones Newswires

February 20, 2020 05:14 ET (10:14 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

Latest GSK Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.