Santaris Pharma signs global R&D alliance with GlaxoSmithKline in viral diseases
19 December 2007
London, UK & Copenhagen, Denmark - GlaxoSmithKline (GSK) and Santaris Pharma today announced that they have entered into a worldwide strategic alliance for the discovery, development and commercialisation of novel medicines against viral diseases. The collaboration provides GSK access to patented RNA antagonist compounds, based on Santaris Pharma’s unique Locked Nucleic Acid technology, for development as potential new therapies for selected viral diseases.GlaxoSmithKline will participate in the alliance through its Infectious Diseases Centre of Excellence for Drug Discovery (ID CEDD). Under the terms of the agreement, Santaris Pharma will grant GlaxoSmithKline options to drug candidates discovered and developed under the collaboration in up to four different viral programs. In each of these R&D programmes, Santaris Pharma will be responsible for the discovery and development of RNA antagonist drug candidates through to completion of Phase IIa (“Clinical Proof of Concept”), at which GlaxoSmithKline has an exclusive option to license each compound for further development and commercialization on a worldwide basis. GSK also has an option to include as additional programme in the collaboration, SPC3649, Santaris Pharma’s preclinical LNA-antimiR against microRNA-122, which is being developed by Santaris Pharma as a potential new therapy for Hepatitis C infection.
Santaris Pharma will receive an upfront fee for the first antiviral programme of $3m (£1.5m) and GSK will make an equity investment of $5m (₤2.5m) in Santaris Pharma. If candidate drugs from the first viral target programme are successful and reach the market, GSK could make additional milestone payments to Santaris Pharma of up to $140m (£69.5m) for this first programme. Similar upfront payments and milestones are payable by GSK to Santaris Pharma in respect of each of the further 3 antiviral programmes if GSK elects to initiate these additional programmes in the collaboration. In addition, if GSK exercises its option to further develop and commercialise SPC3649, it will make a further up front payment of $5m (£2.5m) and additional milestones of up to $122m (£60.5m) if the drug obtains regulatory approvals in Europe and the USA. Overall, under the collaboration Santaris Pharma could be eligible to receive in excess of $700m (£347m) in upfront fees and development and regulatory milestones payments. If a product is successfully commercialised, Santaris Pharma will receive high single to double-digit royalties on worldwide sales of alliance products.
About Santaris Pharma
Santaris Pharma (www.santaris.com) is a Danish based clinical-stage biopharmaceutical company. The company was formed in 2003 and currently employs more than 85 people. Santaris Pharma has the exclusive rights to LNA technology, a 3rd generation antisense chemistry used to develop new classes of RNA medicines, called RNA Antagonists and microRNA antagonists. Santaris Pharmas microRNA Antagonists are targeted against tissue specific microRNAs associated with cancer and metabolic disorders. Santaris Pharma completed a Euro 40m second round of equity financing in May 2006 and a Euro 20m third round of equity financing in December 2007. Santaris Pharma has a global partnership with Enzon Pharmaceuticals of New Jersey to co-develop and commercialise a series of Santaris Pharma RNA Antagonists for improving the treatment of cancer.
About Gilde Healthcare Partners
Gilde Healthcare Partners (www.gildehealthcare.nl) founded in 2000 is headquartered in Utrecht, the Netherlands with representatives in London and Madrid. Gilde Healthcare Partners has over EUR 275 million under management and is actively looking to lead new investments in therapeutics, diagnostics, medical devices and enabling technologies. Gilde is a successful builder of healthcare businesses across Europe. By investing in companies with clear achievable business models, Gilde has used its financial resources and network to create significant value for both its investors and the entrepreneurs it backs.
Companies that Gilde Healthcare Partners has pro-actively supported span all aspects of healthcare and include Ablynx (Belgium), Agendia (Netherlands), AMT (Netherlands), Ascendis (Denmark), Chroma Therapeutics (UK), Conatus (US), Flowcardia (US), Glycart (Switzerland), Innate Pharma (France) and Symphogen (Denmark). For a full list of Gilde’s portfolio companies please visit the website (www.gildehealthcare.nl).
