GSK enters boron drug R&D accord with Anacor

The USA's Anacor Pharmaceuticals and UK drug major GlaxoSmithKline have entered into a worldwide strategic alliance for the discovery, development and commercialization of novel medicines for viral and bacterial diseases. The accord provides GSK access to Anacor's proprietary boron-based chemistry for use against selected targets.

Under the terms of the deal, Anacor will grant GSK options to select product candidates developed under the collaboration that are directed to up to four discovery targets and with the potential for at least eight product options. The US firm will be responsible for the discovery and development of boron-containing small-molecule drug candidates through clinical proof-of-concept, at which point GSK will have an exclusive option to license each compound for further development and commercialization on a worldwide basis. Anacor will have the right to further develop and commercialize compounds for which GSK does not exercize its option.

As part of the deal, Anacor will receive a $12.0-million upfront payment and a $10.0 million equity financing commitment from GSK. Contingent on achieving certain milestones, Anacor is eligible to receive discovery, development, regulatory and commercial milestones ranging up to $252.0 million and $331.0 million for each product candidate. If the UK drug major exercises its option at the proof-of-concept stage, Anacor will receive tiered double-digit royalties, which are dependent on sales achieved. Further financial terms were not disclosed.