(Adds confirmation from Adaptimmune)
June 2 GlaxoSmithKline Plc has agreed a
deal worth more than $350 million with British biotech company
Adaptimmune to develop cancer drugs based on novel cell-based
Adaptimmune said on Monday it would collaborate with GSK on
its lead clinical programme, which it said had already generated
encouraging results in multiple myeloma, melanoma, sarcoma and
ovarian cancer in trials in the United States.
The privately-owned company said it could receive payments
in excess of $350 million over the next seven years from the
tie-up, subject to development goals being met, and significant
development and commercialisation payments in subsequent years.
Adaptimmune said it would also receive sales royalties,
ranging from single to double digits on net sales, on any
products that reach market.
The company's cancer therapies work by re-engineering the
patient's own t-cells, a type of white blood cell, to target and
destroy cancerous or infected cells.
(Reporting by Aashika Jain in Bangalore and Paul Sandle in
London; Editing by Eric Walsh and Kate Holton)