Trials to Test Potential for Immunotherapy Technology
Oct 07 2019 Read 641 Times
Sydney-based Immutep Ltd, developers of immunotherapy treatments for cancer and autoimmune diseases, is to receive a milestone payment from GSK of GB £4 million (approx AU $7.39 million) related to the first patient being dosed in GSK’s Phase II clinical trial evaluating GSK2831781 in ulcerative colitis.
GSK2831781 is derived from Immutep’s IMP731 antibody, a depleting anti-LAG antibody technology that was exclusively licensed to GSK. Under the terms of the agreement, the Australian biotech is eligible to receive up to GB £64 million (approx AU $118.17 million) in developmental milestone payments as well as single-digit tiered royalties, if commercialisation stages are reached. GSK is responsible for all costs associated with the clinical development and the commercialisation process.
Immutep CEO Marc Voigt, said: “It is very encouraging to see GSK advancing their product candidate in a phase II clinical trial for ulcerative colitis, further validating LAG-3 as a potential target for therapeutics in autoimmune diseases. These partner milestone payments are an important source of non-dilutive funding to the company and this capital will be deployed to further advance our extensive development programs.”
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