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news.EvoGenix has received a milestone payment after the successful completion of the first project with its collaboration partner GlaxoSmithKline. Financial terms were not disclosed.
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Under the agreement, EvoGenix utilized its protein optimization technology, EvoGene, to develop improved versions of a protein product from the GSK pharmaceutical pipeline. The protein variants generated had improvements in affinity that exceeded the 20-fold goal specified in the collaboration agreement.
GSK will be responsible for further development of the product, with EvoGenix eligible to receive additional milestone payments as the product progresses through the pipeline. EvoGenix is also set to earn royalties on product sales should it be approved and launched.
“We are delighted with this external validation of the success of the EvoGenix technology platform,” commented Dr George Kopsidas, project director at EvoGenix. “We look forward to similar success in our other collaborative projects and in development of our internal portfolio of antibody drugs.”
EvoGenix is employing its protein engineering technologies in developing a series of valuable protein therapeutics internally, with a particular focus on antibody-based drugs, and also in collaborations with companies such as GlaxoSmithKline, CSL and Vegenics.