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news.GlaxoSmithKline (GSK) has exercised an option that gives it the exclusive rights to research, develop and commercialize inhaled therapeutics derived from Liquidia Technologies' PRINT technology.
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Under a collaboration and option agreement signed in June 2012, Liquidia was entitled to receive an upfront payment including cash and equity, R&D funding, and possible development milestones as well as royalties.
GSK’s latest move requires it to pay option fee to Liquidia apart from continued R&D funding and potential product-based development and regulatory milestone payments.
Liquidia has the right to independently develop an inhaled treatment for a specific disease field.
The companies will continue to work together for advancing inhaled therapeutics into clinical studies.
Liquidia Technologies CEO Neal Fowler said: "GSK’s decision to exercise this option initiates a new and exciting chapter in our relationship.
"We remain confident in the strength of this collaboration to navigate the path ahead to develop novel inhaled therapies."
GSK senior vice president of platform technology & science John Baldoni said: "The exercise of our option supports our commitment to explore advances in science and technology by investing in new platform technologies. These could have the potential to improve current approaches and offer new alternatives to patients."
The PRINT technology particle engineering platform enables precise control of particle size, shape, charge, hydrophobicity, and composition to optimize the safety and effectiveness of vaccines or therapeutics.
Liquidia said PRINT particles for inhalation may provide reduced drug dosage or dosing frequency, which could help in decreasing side effects and enhance patient compliance.