GlaxoSmithKline will receive $94m from the US Department of Health and Human Services to support research and clinical testing for a promising new antibiotic that could be used to treat pneumonia and bio-terror threats.
The antibiotic, GSK ‘052, was originally discovered by Anacor Pharmaceuticals. It will be moved to mid-stage trial for ventilator-associated pneumonia and a late-stage study for complicated intra-abdominal infections.
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Anacor licensed the compound to GlaxoSmithKline last year and received an option exercise fee of $15 million.
The company is also eligible for future development milestone payments of up to $75.5 million and commercial milestone payments of up to $175m as well as royalty payments.
GlaxoSmithKline will be responsible for development and commercialisation of GSK ‘052.
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