As per the agreement, the total milestone payments could reach GBP207m in the event of launch in multiple indications. Apeiron will receive an up-front payment of GBP11m in cash and equity investment, and will receive royalties on net sales.
Hans Loibner, CEO of Apeiron, said: “We are very pleased that we could attract GSK, one of the world’s top pharmaceutical companies, to license this exciting project. I am convinced that Apeiron’s know-how in this area, together with the extensive development and marketing capabilities of GSK,
are the best way forward to bring an innovative therapy to patients worldwide.”
Manfred Reichl, chairman of the Supervisory Board and business angel, said: “Remarkably, Apeiron achieved this major success without prior Venture Capital financing, but only with individual private investors. This proves that the Biotech cluster in Vienna has come a long way and is catching up to global standards in research quality, management capabilities and financing.”