The alliance combines Sirna’s extensive expertise in short interfering RNA (siRNA) chemistry and biology with GSK’s industry leading capabilities in the development and commercialization of novel therapies for respiratory diseases.
Sirna will receive an initial payment of $12 million, made up as cash and purchase of Sirna common stock, priced at $8.36 per share. Sirna may also receive milestone payments in excess of $700 million for collaboration and clinical development events, as well as royalties on worldwide sales of products which successfully result from the alliance.
“By combining GSK’s pulmonary drug delivery expertise with Sirna’s advanced application of RNAi technology, this alliance will expedite the development of novel therapeutics with potential use in a number of respiratory diseases such as asthma and COPD,” said Dr Garth Rapeport, senior vice president of respiratory & inflammation at GSK’s Centre of Excellence for Drug Discovery (CEDD).
Under the terms of the agreement, Sirna will provide GSK optimized and formulated siRNAs against Sirna and GSK targets. GSK will assume all responsibility for the further preclinical and clinical development of these compounds as well as worldwide commercialization of products resulting from the alliance.