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GSK to develop cancer drugs with OncoMed

GSK and US biotech OncoMed partner to discover, develop and market antibody therapeutics to target cancer stem cells

UK pharmaceutical company GlaxoSmithKline (GSK) and US-based biotech OncoMed Pharmaceuticals have partnered to discover, develop and market antibody therapeutics to target cancer stem cells.

Per the agreement, OncoMed could earn milestone payments of up to USD 1.4bn, based on the achievement of specified discovery, development, regulatory and commercial milestones. The biotech will also receive double-digit royalties on all collaboration product sales.

GSK has secured the option to invest in a future initial public offering (IPO) by OncoMed, which focuses on discovery and development of cancer stem cell antibody therapeutics. The move could signal a future acquisition, depending on the success of the collaboration.

GSK also has option to license four OncoMed product candidates directed at multiple cancer stem cell targets.

11th December 2007

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