GSK exercise license option

GlaxoSmithKline (GSK) has exercised its option to license Theravance's inhaled bifunctional, muscarinic antagonist/beta2 agonist (MABA) program under the terms of their 2004 strategic alliance agreement.

This is the third respiratory program licensed by GSK from Theravance, a biopharmaceutical company with a pipeline of internally discovered product candidates. They have previously licensed a long-acting beta2 agonist (LABA) program pursuant to the companies' 2002 Beyond Advair collaboration; and a long-acting muscarinic antagonist (LAMA) program pursuant to the strategic alliance.

GSK has also informed Theravance that it will not exercise its option to license the company's short-acting, sedative-hypnotic (SASH) program. This makes Theravance free to pursue development of the SASH program alone or with another partner.

In consideration for the license to the MABA program, Theravance could receive up to $252m in up-front and milestone payments, in addition to royalties on sales of any MABA products commercialized by GSK. Effective immediately, GSK will fund all future development, manufacturing and commercialization activities for product candidates in this program, in accordance with the terms of the strategic alliance between Theravance and GSK. The lead compound in the program is currently in the preclinical phase.

Using the principles of multivalent drug design, Theravance discovered a unique series of long-acting inhaled bronchodilators that are bifunctional; one molecule functions as both a muscarinic receptor antagonist and a beta2 receptor agonist. These compounds are under investigation for their potential to treat patients with chronic obstructive pulmonary disease (COPD) and possibly asthma.