GlaxoSmithKline to Invest GBP130 Million in CureVac
July 20 2020 - 2:44AM
Dow Jones News
By Adria Calatayud
GlaxoSmithKline PLC said Monday that it will invest 130 million
pounds ($163.4 million) in German biotechnology company CureVac
under a strategic collaboration to develop messenger RNA, or mRNA,
technology.
Under the agreement, the companies will research, develop,
manufacture and commercialize up to five mRNA-based vaccines and
monoclonal antibodies targeting infectious disease pathogens, GSK
said. CureVac's existing Covid-19 mRNA and rabies vaccines research
programs aren't included in the collaboration, the British
pharmaceutical giant said.
GSK said it will fund R&D activities at CureVac for the
development projects covered by the collaboration, and Tubingen,
Germany-based CureVac will be responsible for the preclinical- and
clinical-development through phase 1 trials of these projects.
After phase 1, GSK will be responsible for further development and
commercialization, it said.
GSK's equity investment of GBP130 million will give it close to
a 10% stake in CureVac, and the German company will be eligible to
receive development and regulatory milestone payments of up to
GBP277 million, commercial milestone payments of up to GBP329
million and tiered royalties on product sales, GSK said.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
July 20, 2020 02:29 ET (06:29 GMT)
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