GlaxoSmithKline announced Monday it will invest up to $7.2 billion in a biotech venture capital firm’s research and development pipeline, focusing on treatments for respiratory and immune problems.
Strategic Collaboration with Flagship Pioneering
As part of the strategic collaboration between GSK PLC and Flagship Pioneering, GSK will select up to 10 new medicines and vaccines from Flagship’s portfolio of companies for further clinical development. Initially, the VC and GSK will invest $150 million to kickstart the partnership.
Each new medicine will be entitled to up to $720 million from the drugmaker as the program progresses from the initial stage to its commercial release, according to GSK.
GSK To Put Up To $7.2B Into Biotech VC’s Pipeline : Promising Scientific Concepts
Tony Wood, GSK’s chief scientific officer, said the alliance with Flagship will enable the two companies to deliver “best-in-class innovation.”
“We look forward to partnering with the talented team at Flagship, and their ecosystem of bioplatform companies, to further accelerate our pipeline and discover practice-changing medicines and vaccines for patients,” Wood said in a statement.
