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GSK PLC on Monday announced an agreement with Syndivia that grants GSK exclusive worldwide rights to develop and commercialise a preclinical antibody-drug conjugate for metastatic castration-resistant prostate cancer.
The London-based pharmaceutical company said the drug has shown ‘enhanced anti-tumour activity’ and an ‘encouraging safety profile’ which demonstrates ‘best-in-class potential’.
In preclinical studies, the antibody-drug conjugate was effective at shrinking tumours without causing a ‘proportional increase’ in significant side effects.
Syndivia is a Strasbourg, France-based private biotechnology company focused on ‘next-generation’ ADCs.
Under the agreement with GSK, Syndivia will receive an upfront payment as well as success-based development and commercial milestone payments up to a total of £268 million.
Syndivia also will receive from GSK tiered royalties on future product sales worldwide.
Hesham Abdullah, global head of Oncology R&D at GSK, said: ‘Prostate cancer represents a significant health burden and an emerging area of growth for GSK, where targeted therapies are urgently needed in metastatic castration-resistant settings. The addition of this ADC builds on GSK’s growing portfolio and strengths in tumour-targeted technologies.’
GSK shares were 1.2% higher at 1,639.50 pence each on Monday morning in London.
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