GlaxoSmithKline has exercised an option for an exclusive license to develop inhaled therapies using Liquidia Techonologies’ PRINT particle engineering technology, Liquidia said. The option was included in a collaboration deal the two companies signed in 2012. Liquidia also said that it has retained the right to develop an inhaled therapy independently.
Upon exercising the option, GSK will pay an option fee, provide additional funding for research, and potentially make milestone and royalty payments. According to the 2012 announcement, the total value of the collaboration deal was in the range of “several hundred million dollars.”
Liquidia CEO Neal Fowler commented, “We are very pleased with the progress that has been made over the past three years in our collaboration with GSK. They are a great partner in our exploration of inhaled therapeutic options using our novel PRINT technology. GSK’s decision to exercise this option initiates a new and exciting chapter in our relationship. We remain confident in the strength of this collaboration to navigate the path ahead to develop novel inhaled therapies.”
GSK Senior VP, Platform Technology & Science, John Baldoni said, “We are pleased to continue our collaboration with Liquidia. The exercise of our option supports our commitment to explore advances in science and technology by investing in new platform technologies. These could have the potential to improve current approaches and offer new alternatives to patients.”
Read the Liquidia Technologies press release.
