Under the terms of the agreement, Archemix will receive $27.5 million in upfront payments from GlaxoSmithKline (GSK), including a $6.5 million equity investment by GSK in the company.
Archemix could also be eligible to receive up to $200 million in development, regulatory and sales milestone payments for each of the seven aptamer therapeutics which may be discovered and developed as part of the alliance. Archemix would also receive tiered royalties up to lower double digits on worldwide sales of products that may result from the alliance.
Archemix will be responsible for the discovery and development of the aptamer therapeutics through completion of clinical proof of mechanism, unless GSK chooses to exercise its option earlier.
After exercise of the option, GSK will have an exclusive license to drug product candidates developed under each program by Archemix for the relevant aptamer target for further development and commercialization on a worldwide basis. Archemix will have the right to further develop and commercialize any aptamer therapeutics which GSK chooses not to develop or commercialize.
The alliance leverages Archemix’s expertise and intellectual property position in the discovery and development of aptamer therapeutics and provides GSK with an option to license product candidates directed at seven different aptamer targets with relevance in inflammatory disease.
Jose Carlos Gutierrez-Ramos, senior vice president and head of the Immuno-Inflammation Centre of Excellence for Drug Discovery in GSK, said: “This innovative multi-target drug-discovery deal is an important extension of our externalization strategy and provides GSK with an outstanding opportunity to work with the world leader in aptamer discovery and development.”