GSK, Chroma Therapeutics Form Alliance
Published: 23-Jun-2009
GlaxoSmithKline to invest in Chroma’ Series D equity financing
GlaxoSmithKline (GSK) and Chroma Therapeutics have signed a collaboration agreement to develop macrophage-targeted compounds, using Chroma’ proprietary esterase-sensitive motif (ESM) technology.
Chroma would undertake four discovery and development programs to identify small molecule therapeutics, including its macrophage-targeted HDAC inhibitor program for inflammatory disorders such as rheumatoid arthritis. Chroma would receive a significant up-front cash payment. In addition, GSK will invest in Chroma’ Series D equity financing.
Chroma is eligible to receive milestones, option fees and tiered royalties based on compounds arising from the collaboration. Overall, the company has the potential to receive in excess of $1 billion in total milestone and option payments, in the event that all four programs are successful.
Shelagh Wilson, Vice President and Head of the European CEEDD, said: We believe Chroma's ESM platform has tremendous potential, and look forward to working with Chroma to accelerate the discovery and development of innovative new medicines for patients
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