Boston Pharmaceuticals Enters into Unique Multi-Year Out-License and Option Agreement with GSK for the Advancement of Multiple Pre-Phase 2 Programs
- The first two programs selected under the agreement are for oncology and CNS disorders -
CAMBRIDGE, Mass. – Mar. 18, 2021 - Boston Pharmaceuticals [a Gurnet Point Capital portfolio company] announced today a pioneering three-year out-license and option agreement with GlaxoSmithKline PLC (LSE/NYSE: GSK). Boston Pharmaceuticals will become a preferred GSK partner for select pre-phase 2 programs. This new agreement builds on the relationship established in 2018 with Boston Pharmaceuticals’ acquisition of five GSK programs.
"This new agreement validates Boston Pharmaceuticals as a trusted development partner with whom pharmaceutical companies can collaborate," said Robert Armstrong, Ph.D., CEO of Boston Pharmaceuticals. "GSK has been an excellent partner and we look forward to advancing these pre-phase 2 assets into and through the clinic to evaluate their potential to improve patient lives."
Initially, GSK will out-license and option two programs to Boston Pharmaceuticals:
GSK3903371 - a monoclonal antibody targeting the Interleukin-1 Receptor Accessory Protein (IL1RAP), a tumor-associated antigen driving tumor growth and immunosuppression.
GSK3502421 - an orally available, small molecule inhibitor for potential neurological disorders that targets Receptor Interacting Serine/Threonine Kinase 1 (RIPK1), a key component of the TNF-driven inflammation and necroptosis pathway.
"We are pleased to further strengthen our relationship with Boston Pharmaceuticals as they continue to help us translate great science into medicines," said John Lepore, SVP, Research of GSK. "This agreement makes strong strategic sense as it helps us assess the potential of multiple early-stage programs and focus on progressing our own internal assets, while maintaining pipeline optionality for the future."
Under the agreement, Boston Pharmaceuticals will be responsible for further development of select programs through proof-of-concept (PoC). Following the completion of PoC studies, GSK will have the option to reacquire each program under pre-agreed terms for subsequent development and worldwide commercialization.
If GSK exercises its repurchase option, Boston Pharmaceuticals will receive a one-time payment, as well as be eligible for approval and sales milestones and royalties. In the event GSK chooses not to reacquire a program, Boston Pharmaceuticals may continue development and potential commercialization of the program. GSK will then be eligible to receive milestones and royalty payments.
About Boston Pharmaceuticals
Boston Pharmaceuticals is a clinical stage biopharmaceutical company that leverages an experienced drug development team to advance a portfolio of high value candidates that address important unmet medical needs. The Company partners with innovative biotechnology and pharmaceutical companies to acquire drug development candidates. We employ unencumbered decision making, follow the data and advance only those programs that meet our stringent development hurdles. Following clinical proof of concept, we establish value creating partnerships with the world’s leading biotechnology and pharmaceutical companies or advance programs through commercialization. We are continuously seeking new opportunities to leverage our model to create a path to value for our partners and patients. Boston Pharmaceuticals is a portfolio company of Gurnet Point Capital, a Cambridge, MA based private equity firm focused on healthcare investing. For more information, please visit www.bostonpharmaceuticals.com or follow us on Twitter @BosPharma and LinkedIn.
Kari Watson or Emily Wong