GlaxoSmithKline and NeuroSearch expand strategic alliance  

2006.11.17
GSK shows its trust in NeuroSearch's abilities, as the Danish biotech firm takes on a greater share of drug development work
Danish biotech firm NeuroSearch and pharma giant GlaxoSmithKline (GSK) have agreed to expand the scope of their current 5 year strategic alliance in central nervous system (CNS) and ion channel drug discovery and development.
 
The key change in the alliance concerns the distribution of work, risk and reward between the two parties. Analyst Peter Andersen at Jyske Bank comments: "NeuroSearch will henceforth carry product development through to Phase IIa*. Previously GSK took over the products before they reached clinical development. This shows that GSK puts considerable trust in NeuroSearch's expertise in product development."
 
Other changes in the alliance are the full exploitation of NeuroSearch’s ion channel platform, including non-CNS indications, and a new equity structure under which NeuroSearch can sell shares to GSK of up to DKK 223 m (USD 38 m). The news was reported by national daily newspaper Berlingske Tidende.
 
In a press release, Senior Vice President of GSK External Drug Discovery, Maxine Gowen says : “We are very pleased with the alliance with NeuroSearch and the expansion of our collaboration. We want to fully explore the potential of NeuroSearch’s unique ion channel platform across multiple therapeutic areas."
 
*Commonly called "proof of concept" stage – Ed.
 
Link > NeuroSearch  

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