Pharmexa and GSK will not start negotiations on breast cancer vaccine
GlaxoSmithKline (GSK) has now informed Pharmexa of their decision not to exercise a previously granted right to negotiate a license agreement on Pharmexa's HER-2 Protein AutoVac(TM) vaccine. The vaccine recently started phase II trials in breast cancer.
As described in the prospectus dated April 2004 Pharmexa's strategy for the HER-2 Protein AutoVac(TM) vaccine is to develop the product through phase II before a development- and marketing partner is sought.
Jakob Schmidt, CEO in Pharmexa says: "Now was not the right time for having these discussions, and I fully agree with their decision. I still expect GSK to be one of a handful of potential partners we will talk to when we have proof of concept data from the phase II program in the second half of 2006."
Other news from the department business & finance
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