Share

GSK in $350m deal to develop cancer drugs

Brentford - GlaxoSmithKline has agreed a deal worth more than $350m with UK biotech company Adaptimmune to develop cancer drugs, the Financial Times reported on Monday.

London-based GSK, which sold its cancer drugs business to Swiss drugmaker Novartis in April, is expected to announce the deal on Monday, according to an FT report.

The newspaper said that GSK would pay Adaptimmune as much as $350m over the next seven years, subject to development milestones being met.

Further payments would be due in subsequent years if GSK exercises all its options and targets continue to be met.

In addition, Adaptimmune would receive sales royalties on any products that reach market, the financial daily reported.

The newspaper said GSK would develop cell-based cancer therapies that involve re-engineering patients' white blood cells to improve the body's ability to fight tumours.

The FT quoted James Noble, chief executive of Adaptimmune, as saying that the development work would be done at the company's laboratories in Oxfordshire - boosting efforts to promote the so-called "golden triangle" around Oxford, Cambridge and London as a globally competitive biotech hub.

GSK and Adaptimmune could not be reached outside of normal business hours.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
19.02
-0.6%
Rand - Pound
23.97
-0.3%
Rand - Euro
20.53
-0.3%
Rand - Aus dollar
12.35
-0.0%
Rand - Yen
0.13
-0.6%
Platinum
894.10
-0.3%
Palladium
996.00
-0.6%
Gold
2,196.05
+0.1%
Silver
24.45
-0.8%
Brent Crude
86.09
-0.2%
Top 40
67,848
+0.3%
All Share
74,067
+0.2%
Resource 10
56,251
+1.1%
Industrial 25
103,518
+0.2%
Financial 15
16,466
-0.4%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders