According to the terms of the product license, GSK will pay an up-front license fee, development milestones, and royalties on product sales to acquire the exclusive world-wide rights to develop and commercialize OP-R003 for the treatment of rheumatoid arthritis and other disease indications.
Vaccinex will share 50% of fees, payments and royalties. The antibody was discovered by Vaccinex utilizing its ActivMAb® antibody discovery technology and first licensed for co-development by EUSA Pharma (formerly OPi SA).
"We are pleased that our collaboration in the discovery and co-development of OP-R003 has attracted such a world-class partner as GSK. Together with previously announced antibody partnerships with Biocon, Ltd. and Teva Pharmaceutical, this transaction further validates the quality of human antibodies selected with Vaccinex's ActivMAb® antibody discovery technology," remarked Dr. Maurice Zauderer, Vaccinex's President and CEO.