GSK partners with Oxford Bio for cancer Abs in $370M deal

UK drug major GlaxoSmithKline has taken further steps to bolster its early-stage oncology pipeline by forming a strategic alliance with  Oxford BioTherapeutics to discover, develop and commercialize novel,  therapeutic antibodies for the treatment of primary, metastatic and  recurring forms of cancer.

Under the alliance, GSK will develop novel antibody therapies against  selected Oxford Bio targets. In parallel, the latter will develop one of  its own monoclonal antibodies through to clinical proof-of-concept, at  which point GSK will have an exclusive option to in-license this and  will thereafter assume responsibility for further clinical development  and commercialization on a worldwide basis.

Oxford Bio will receive an undisclosed upfront payment and will be  eligible for up to a total of $370.0 million upon the achievement of  specified discovery, development, regulatory and commercialisation  milestones, as well as double-digit royalties on sales of any product  that it develops to clinical proof-of-concept and single-digit royalties  on worldwide sales of marketed GSK products aimed at its targets.  Furthermore, Oxford Bio may opt to carry forward the collaboration  programs that GSK chooses not to develop further.