In an attempt to strengthen its pipeline of therapeutic antibodies, British biotech group Oxford BioTherapeutics (OBT) has formed an alliance with GlaxoSmithKline (GSK), for the discovery and development of new therapeutic antibodies for the treatment of primary, metastatic and recurring forms of cancer.
While GSK will develop novel antibody therapies against selected OBT targets, OBT will develop one of its own monoclonal antibodies through to clinical proof of concept, at which point Glaxo will have an exclusive option to license it.
The alliance helps OBT integrate its capability in the discovery of novel oncology targets and therapeutic antibody discovery with GSK's internal therapeutic antibody discovery and development capabilities.
OBT said it would receive an undisclosed upfront payment and would be eligible for up to a total of $370m milestone payments, depending on success of specified discovery and development of the new drugs.
In addition, OBT will get royalties.
OBT CEO Christian Rohlff said: "We are extremely pleased to be collaborating with GSK given their proven commitment to innovation and their expertise in the development and commercialisation of novel oncology medicines."