Vernalis signs oncology licence with GSK

6-Aug-2009

Vernalis, a UK-based development stage pharmaceutical company, has entered into an exclusive licence agreement with GlaxoSmithKline relating to a Vernalis research programme against an undisclosed oncology target. During the research phase Vernalis will continue to apply its expertise in Structure Based Drug Design (SBDD) technologies to progress development candidates against the target.

Vernalis, a UK-based development stage pharmaceutical company, has entered into an exclusive licence agreement with GlaxoSmithKline relating to a Vernalis research programme against an undisclosed oncology target. During the research phase Vernalis will continue to apply its expertise in Structure Based Drug Design (SBDD) technologies to progress development candidates against the target.

The deal is a risk-sharing agreement, with Vernalis responsible for drug discovery activities and GSK for pre-clinical development.

Vernalis will receive an upfront payment of US$6m and could earn milestone payments in excess of US$200m and up to double-digit royalties with further milestones and royalties if developed outside oncology.

Sign up for your free email newsletter

"The risk-sharing structure of today's deal not only allows us to achieve our research funding goal but also to retain a significant upside from successful development of this novel Vernalis oncology programme," said Ian Garland, ceo of Vernalis.

Companies