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news.Idenix Pharmaceuticals is set to receive a payment of $20m from the ViiV Healthcare Company for the achievement of a clinical milestone relating to GSK2248761 (known as '761).
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Idenix said that, in February 2009, it licensed to GlaxoSmithKline (GSK) on a worldwide basis, a non-nucleoside reverse transcriptase inhibitor (NNRTI) drug candidate, ‘761, for the treatment of HIV/AIDS.
As per the terms of this agreement, Idenix could potentially receive up to $390m in additional milestone payments as well as double-digit tiered royalties on worldwide product sales.
In November 2009, GSK and Pfizer created ViiV Healthcare, an independent company focused solely on research, development and commercialisation of HIV medicines, and ‘761 became part of the ViiV Healthcare pipeline.
Idenix president and CEO Ronald Renaud said that they were pleased with the continued progress of ‘761 and the initiation of a Phase IIb clinical trial in HIV-infected patients.