Liquidia Technologies and GlaxoSmithKline Advance Existing Collaboration; GlaxoSmithKline Exercises Option for Inhaled TherapeuticsRESEARCH TRIANGLE PARK, NC – September 30, 2015
Liquidia Technologies today announced that GlaxoSmithKline (GSK) has exercised its option under a Collaboration and Option Agreement signed in 2012 to exclusively license the right to research, develop, and commercialize inhaled therapeutics derived from the company’s proprietary PRINT® technology. Through this collaboration, Liquidia and GSK will continue to work together with the goal of advancing inhaled therapeutics into clinical studies.
“We are very pleased with the progress that has been made over the past three years in our collaboration with GSK. They are a great partner in our exploration of inhaled therapeutic options using our novel PRINT technology,” said Neal Fowler, Chief Executive Officer at Liquidia Technologies. “GSK’s decision to exercise this option initiates a new and exciting chapter in our relationship. We remain confident in the strength of this collaboration to navigate the path ahead to develop novel inhaled therapies.”
According to the agreement signed in June 2012, Liquidia was granted an upfront payment comprised of cash and equity, R&D funding, and potential development milestones and royalties. As a result of the GSK decision to exercise the option, Liquidia will receive an option fee, continued R&D funding, and potential product-based development and regulatory milestone payments. Liquidia has also retained the ability to independently develop an inhaled treatment for a particular disease field.
“We are pleased to continue our collaboration with Liquidia. The exercise of our option supports our commitment to explore advances in science and technology by investing in new platform technologies. These could have the potential to improve current approaches and offer new alternatives to patients,” said John Baldoni, Senior Vice President, Platform Technology & Science at GSK.
The PRINT technology is an innovative, highly tunable, and scalable particle engineering platform that allows Liquidia and its collaborators to precisely tailor particle size, shape, charge, hydrophobicity, and composition with the goal of optimizing the safety and effectiveness of vaccines or therapeutics. Beyond this collaboration, Liquidia is harnessing the unique capabilities of PRINT to find and develop novel therapeutic solutions across several disease states where significant unmet medical needs persist. The versatility of the PRINT technology in the development of precision vaccines and therapeutics, combined with proven scale-up cGMP manufacturing capabilities, puts Liquidia at the forefront of developing important therapies of tomorrow by overcoming the challenges associated with traditional product development today.