Cellzome in new GSK windfall
Cambridge based Cellzome has hit more key milestones and clinched a further lucrative payback from GlaxoSmithKline.
The company is plumbed into a number of milestones potentially worth millions but the parties have agreed that the value of the payments remain undisclosed.
Cellzome said it had reached the clinical candidate milestone for a programme as well as a lead declaration milestone for a further target (under a separate programme) as part of the kinase alliance with GSK.
The clinical candidate and lead were derived from Cellzome’s chemistry using Kinobeads™, a proprietary chemoproteomic screening and profiling approach utilising native proteins under close-to-physiological conditions.
The clinical candidate is highly selective for its kinase target and has limited and precise effects on immune cell functions as well as a good in vivo safety profile.
In September 2008, Cellzome and GSK announced a worldwide strategic alliance which uses Cellzome’s drug discovery and development capabilities and its proprietary Kinobeads™ technology to identify, develop and market novel kinase-targeted therapeutics to treat inflammatory diseases.
GSK has exclusive options to license drug candidates from Cellzome’s kinase programmes directed against seven targets. Cellzome will develop these programmes to clinical proof of concept, unless GSK elects to exercise its option earlier.
Cellzome is eligible to receive success-based milestones from GSK as product candidates are advanced. The first milestone in the alliance was announced in December 2008.
Cellzome CEO, Tim Edwards, said: “The achievement of these milestones underlines the solid progress we are making in our kinase collaboration with GSK.
“They demonstrate how productively the KinobeadsTM platform is integrated into our overall drug discovery effort, which is now producing innovative compounds with the drug-like properties necessary for clinical candidates.”
• PHOTOGRAPH SHOWS: Cellzome CEO, Tim Edwards