GlaxoSmithKline and Cellzome Announce Major Strategic Alliance

Kinobeads(TM) Technology to Identify a New Generation of Drug

15-Sep-2008 - United Kingdom

Cellzome Inc. and GlaxoSmithKline announced the signing of a worldwide strategic alliance to discover, develop and market novel kinase-targeted therapeutics to treat inflammatory diseases.

The alliance gives GSK access to Cellzome's significant expertise in identifying and developing selective kinase inhibitors and its proprietary Kinobeads(TM) technology which, by screening compounds in a physiological setting, is designed to improve the predictability of these drug candidates' performance in clinical testing. Kinases are key molecular switches in cellular signaling events with a central role in many inflammatory responses and selective inhibitors offer a different approach to therapeutic intervention in diseases such as rheumatoid arthritis or multiple sclerosis.

Under the agreement GSK has exclusive options to license drug candidates from Cellzome's kinase programs directed against four identified targets, and three additional targets to be jointly identified by both parties. In the alliance, Cellzome will utilize its proprietary Kinobeads(TM) technology to discover novel small molecule inhibitors of these targets, and then will develop the most promising product candidates through to completion of a clinical proof of concept trial, unless GSK elects to exercise its option earlier. Cellzome is eligible to receive success-based milestones from GSK as product candidates are advanced. Upon Cellzome's achievement of clinical proof of concept for a product candidate for a particular kinase target, GSK would have an exclusive option to license all product candidates from that program. GSK would then assume full responsibility for further clinical development and commercialization on a worldwide basis. Cellzome retains the right to continue the development and commercialization of drug candidates if GSK chooses not to exercise its option to that program.

Under the terms of the agreement, Cellzome will receive upfront payments of GBP14.4 million comprised of both cash and equity. Cellzome is eligible for up toGBP118 million per program in potential development, regulatory and commercial milestones and up to double digit royalties on net sales of products resulting from the alliance.

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