- 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
|SOURCE Mpex Pharmaceuticals|
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