The collaboration provides GlaxoSmithKline (GSK) access to Mpex’s novel efflux pump inhibitors (EPI) and related proprietary technology for use in combination with a variety of antibiotics.
The collaboration will focus on the discovery and development of novel drug regimens comprising Mpex’s EPIs combined with GSK’s novel development stage compounds as well as existing commercial antibiotics to improve potency and broaden the spectrum of antibacterial activity.
Under the terms of the agreement, Mpex will grant GSK rights to product candidates developed under the collaboration that are directed to three different target product profiles and with the potential to deliver up to seven treatment options. Mpex will be responsible for the discovery of EPI drug candidates and the development of combination product candidates through clinical proof of concept, at which point GlaxoSmithKline will have an option to exclusively license each product candidate for further development and commercialization on a worldwide basis.
Mpex will retain the right to further develop and commercialize product candidates for which GSK does not exercise its option. Mpex will receive an $8.5 million upfront payment and a $6.5 million equity financing commitment from GSK. Contingent on achieving certain milestones, Mpex is eligible to receive development, regulatory and commercial milestones ranging up to $200 to $250 million for each product candidate.
If GlaxoSmithKline exercises its option, Mpex will receive tiered royalties, which are dependent on sales achieved, for EPIs used in combination with commercially available antibiotics and with proprietary GSK antibiotics.