GSK, Idera Partner for RNA Drugs
Idera Pharmaceuticals, Inc. , a clinical-stage biopharmaceutical company developing toll-like receptor and RNA therapeutics for patients with cancer and rare diseases, has entered into an exclusive worldwide collaboration and license agreement with GlaxoSmithKline to research, develop, and commercialize selected molecules from Idera's third-generation antisense platform for treating selected targets in renal disease.
Under the agreement, Idera is eligible to receive approximately $100 million in development and regulatory milestone payments, including a $2.5 million upfront payment. Additionally, Idera is eligible to receive royalties on all sales upon commercialization at varying rates up to 5% on annual net sales in excess of $500 million.
Idera Pharmaceuticals is a clinical-stage biopharmaceutical company developing nucleic acid-based therapies for the treatment of certain cancers and rare diseases. Idera's proprietary technology involves using a TLR-targeting technology, to design synthetic oligonucleotide-based drug candidates to act by modulating the activity of specific TLRs. In addition to its TLR programs, Idera is developing a antisense technology platform that it has created using its proprietary technology to inhibit the production of disease-associated proteins by targeting RNA.
Source: Idera Pharmaceuticals