GSK to make $10 million milestone payment to Dynavax for various drugs

12/18/2008

LONDON GlaxoSmithKline will pay $10 million, plus potential milestones, to a Berkeley, Calif.-based biotech company as part of a partnership to create treatments for immuno-inflammatory diseases, GSK announced Wednesday.

Dynavax Technologies Corporation will give GSK an exclusive option over four programs targeting autoimmune and inflammatory diseases such as lupus, psoriasis and rheumatoid arthritis. The two companies will discover, develop and commercialize novel inhibitors of endosomal toll-like receptors, also known as TLRs.

“Our alliance with GSK provides an opportunity to create an entirely new product franchise for Dynavax,” Dynavax president and chief executive officer Dino Dina said in a statement. “Our TLR inhibitors have the potential to create significant value for our newest collaborator, GSK, as well as for our shareholders.”

Dynavax will conduct research and early clinical development in up to four programs and is eligible to receive future potential development and commercialization milestones totaling about $200 per program.

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