MolMed S.p.A. has announced that it has signed an agreement with GlaxoSmithKline (GSK) under which MolMed will develop a production process for an investigational gene therapy for ADA-SCID (Adenosine Deaminase Deficiency - Severe Combined Immune Deficiency), a very rare and life-threatening disease that affects approximately 350 children worldwide.
Under the terms of the agreement, MolMed will receive up to EUR 5.5 million in revenues over a two-year period.
ADA-SCID is a disease caused by the alteration of a single gene; it was thus possible to develop a therapy by inserting, through gene transfer technology, the correct form of the gene into the patient's own stem cells derived from their bone marrow.
This gene therapy, which is in late stage clinical trials, has been developed by the San Raffaele Telethon Institute for Gene Therapy (HSR-TIGET) and was in-licensed by GSK to develop and commercialize the therapy.
Claudio Bordignon, chairman and CEO of MolMed, comments: "We are extremely pleased to have entered into this agreement with GSK. MolMed has expertise and know-how in the field of gene and cell therapy and this agreement with GSK is an important step on the way to provide gene therapy for patients with rare diseases. I am very proud that today MolMed can give its industrial contribution to this innovative and advanced field of medicine."
This press release is written in compliance with public disclosure obligations established by CONSOB (Italian securities & exchange commission) resolution no. 11971 of 14.5.1999, as subsequently amended.