GlaxoSmithKline and OncoMed to develop cancer stem cell antibody therapeutics
US giants GlaxoSmithKline (GSK) and OncoMed are using their pharmaceutical expertise to target cancer stem cells through the discovery, development and marketing of novel antibody therapeutics.
US giants GlaxoSmithKline (GSK) and OncoMed are using their pharmaceutical expertise to target cancer stem cells through the discovery, development and marketing of novel antibody therapeutics.
The allegiance will see OncoMed pooling its skills in this field, leaving GSK with the option to license four product candidates directed at multiple cancer stem cell targets from OncoMed's library of monoclonal antibodies.
OncoMed is set to receive an undisclosed initial payment as well as an equity investment. It will eligible to earn milestone payments up to $1.4bn from GSK based on the achievement of specified discovery, development, regulatory and commercial milestones.
And GSK will have an option to invest in a future initial public offering by OncoMed. Work between the two companies is to take place a Center of Excellence for External Drug Discovery (CEEDD).
OncoMed has established a diverse pipeline of monoclonal antibodies to target multiple pathways important in the activity of cancer stem cells. The alliance with GSK includes OncoMed's lead antibody product candidate, OMP- 21M18, and a monoclonal antibody, which is scheduled to enter the clinic in 2008.
In the alliance, OncoMed will use its proprietary in vivo xenograft cancer stem cell models to identify monoclonal antibodies in a specific, undisclosed cancer stem cell pathway. OncoMed will develop the most promising of these monoclonal antibodies, including OMP-21M18, through clinical proof of concept across multiple indications. Upon OncoMed's achievement of clinical proof of concept in an agreed indication, GSK will have an exclusive option to license such monoclonal antibody.
"This alliance confirms GSK's growing status as a world leader in the development of new oncology medicines for use in the treatment, prevention and supportive care of cancer patients and provides us access to an exciting new area of drug discovery. We believe that targeting cancer stem cells has the potential to change the paradigm of how oncology patients are treated and we are very excited to be working with OncoMed to develop novel and innovative medicines in this regard," said Hugh Cowley, senior vice president and head of the CEEDD.
"We are extremely pleased to be collaborating with GSK given their proven commitment to innovation and their expertise in the development and commercialization of novel oncology medicines," said Paul J. Hastings, president and ceo of OncoMed. "This strategic alliance provides important validation of our scientific expertise in the field of cancer stem cell research and drug development. In addition, we gain access to significant non-dilutive financing to support the development of our novel cancer therapeutics, which we believe have the potential to significantly impact the outcome of cancer treatment."