GlaxoSmithKline Plc and Synta Pharmaceuticals Corp have announced the execution of a global collaboration agreement for the joint development and commercialization of experimental drug STA-4783.
The deal for the drug is beginning a global Phase 3 trial for melanoma involving 600 patients.
Under the terms of the agreement, the companies will share responsibility for development and commercialization of STA-4783 in the U.S. and GSK will have exclusive responsibility for development and commercialization of STA-4783 outside the U.S.
Growing status
SmithKline, Europe's biggest drugmaker has made cancer medicine a priority area for development.
Moncef Slaoui, Chairman R&D, GSK said: "This agreement confirms GSK's growing status as a world leader in the development of new oncology medicines for use in the treatment, prevention and supportive care of cancer patients.
“It further strengthens our late stage oncology pipeline, which currently includes ten Phase 3 programs, and also demonstrates our commitment to identifying compounds that have the potential to deliver real benefit to patients."
London-based Synta will receive $80 million as an upfront payment which could earn the U.S. biotechnology company more than $1 billion.
The company’s CEO Safi Bahcall said in March the company would seek partnerships to fund development of its drugs.
October 11 2007
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