VIENNA, Austria, October 23 /PRNewswire/ -- GlaxoSmithKline Biologicals S.A. (GSK) and AFFiRiS GmbH announced today the execution of a collaboration agreement granting GSK exclusive rights to AFFiRiS's Alzheimer's disease vaccine programmes, aimed at treating Alzheimer's by targeting beta-amyloid.
As part of the agreement GSK is acquiring exclusive rights to develop and commercialise two Alzheimer's disease vaccine candidates that are based on AFFiRiS AFFiTOPE technology and are currently in Phase I clinical development. AFFiRiS is also granting GSK an exclusive option to develop and commercialise alternative Alzheimer's disease vaccine candidates which are in preclinical development.
Under the terms of the agreement, AFFiRiS will receive an up-front payment of EUR 22.5 million (GBP17.5 million) and could be eligible for future milestone payments and royalties. The total potential value of the agreement could reach EUR 430 million (GBP334 million) in the event of full commercial success of the candidate vaccines. This agreement is subject to governmental authority approval.
Central to the deal is the AFFiRiS AFFiTOPE technology which allows the design of proteins with very specific binding characteristics that are ideally suited for the development of vaccines against disease-causing "rogue" human proteins such as beta-amyloid which is central to the pathology of Alzheimer's disease.
Commenting on the agreement, Walter Schmidt, co-founder and CEO of AFFiRiS, stated: "We are pleased that we could secure GSK Biologicals, one of the world's leading vaccine companies, in collaborating on the development our Alzheimer's disease vaccine programs. This deal brings together two companies with strong innovation, vaccine development and commercialisation capabilities and experience."
Jean Stephenne, President and General Manager of GlaxoSmithKline
Biologicals, said "We are impressed with the AFFiRiS technology - combined
with our expe
|SOURCE AFFiRiS GmbH, GlaxoSmithKline Biologicals (GSKBiologicals)|
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