SuperGen, GSK To Collaborate On Discovery, Development Of New Epigenetic Therapeutics

SuperGen and GlaxoSmithKline have entered into a multi-year collaboration to discover and develop cancer therapeutics based on epigenetic targets.

Under the terms of the deal, SuperGen will progress candidate compounds through to early clinical proof of concept. GlaxoSmithKline will then have the right to exercise an option to develop further and commercialise resulting products on a global basis.

In connection with the transaction, SuperGen will receive $5m upfront, inclusive of a $3m common stock investment, priced at a premium to market. Total potential development and commercialisation milestones payable to SuperGen could exceed $375m, in addition to the potential for tiered royalties into double digit magnitudes, payable on net sales of any resulting products.

James Manuso, chairman, president and CEO of SuperGen, said: “We are excited to be working with GlaxoSmithKline, a company that has demonstrated a significant global commitment to bringing novel cancer therapeutics to patients. We believe this collaboration is a clear validation of our discovery platform, core expertise and capabilities.”