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news.Pharmacopeia 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 is said to be the first from a program being evaluated as a potential treatment for pain and the fifth lead identified since the alliance was initiated in 2006. As a result of this success, Pharmacopeia will receive a $500,000 milestone payment from GlaxoSmithKline (GSK).
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 for biological and pharmacological sciences at Pharmacopeia, said: “The timely pace in which Pharmacopeia identified the GSK leads demonstrates Pharmacopeia’s expertise in drug discovery. We highly value our collaboration with GSK and look forward to its further success.”