GlaxoSmithKline and Mpex Pharmaceuticals Form Alliance to Develop Novel Efflux Pump Inhibitors for Use Against Serious Gram-Negative ...( - Potential to combine compounds with...)

- Potential to combine compounds with multiple new and existing antibiotics

to create a broad offering of anti-infective medicines with activity

against drug-resistant organisms -

SAN DIEGO and LONDON, June 16 /PRNewswire/ -- Mpex Pharmaceuticals and GlaxoSmithKline (GSK) today announced that they have entered into a worldwide strategic alliance for the discovery, development and commercialization of novel medicines for bacterial diseases. The collaboration provides GlaxoSmithKline access to Mpex's novel efflux pump inhibitors (EPI) and related proprietary technology for use in combination with a variety of antibiotics. The collaboration will focus on the discovery and development of novel drug regimens comprising Mpex's EPIs combined with GSK's novel development stage compounds as well as existing commercial antibiotics to improve potency and broaden the spectrum of antibacterial activity.

Under the terms of the agreement, Mpex will grant GlaxoSmithKline rights to product candidates developed under the collaboration that are directed to three different target product profiles and with the potential to deliver up to seven treatment options. Mpex will be responsible for the discovery of EPI drug candidates and the development of combination product candidates through clinical proof of concept, at which point GlaxoSmithKline will have an option to exclusively license each product candidate for further development and commercialization on a worldwide basis. Mpex will retain the right to further develop and commercialize product candidates for which GlaxoSmithKline does not exercise its option. Mpex will receive an $8.5 million upfront payment and a $6.5 million equity financing commitment from GlaxoSmithKline. Contingent on achieving certain milestones, Mpex is eligible to receive development, regulatory and commercial milestones ranging up to $200 to $250 million for each product candidate. If GlaxoSmithKline exercises its
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