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news.Pharmacopeia, which discovers and develops small molecule therapeutics, has identified a new lead for advancement in its alliance with GlaxoSmithKline, through its collaboration with the Center of Excellence for External Drug Discovery.
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This newly identified lead compound is from a program being evaluated as a potential treatment for inflammatory pain and is the sixth lead compound identified through the collaboration. As a result of this success, Pharmacopeia has received a $500,000 milestone payment from GlaxoSmithKline (GSK).
With the achievement of this milestone, Pharmacopeia has received a total of $18 million from GSK in connection with the alliance. Pharmacopeia is entitled to success-based milestone payments totaling up to $83 million per program and potentially double-digit royalties on the sales of any product commercialized by GSK under the multi-program alliance.
Should GSK decline its option to complete pivotal trials of alliance programs, Pharmacopeia would maintain future development and commercialization rights.
Maria Webb, vice president of preclinical research at Pharmacopeia, said: “We are particularly proud to have identified this lead compound, in collaboration with GSK, in the area of inflammatory pain. This reaffirms Pharmacopeia’s experience and expertise in this therapeutic area, and we look forward to future development milestones for these compounds.”