Wednesday, June 20, 2012

Liquidia Technologies secures deal worth 'several hundred million dollars'

CED Mentor Partner GlaxoSmithKline (GSK) is taking an equity stake, providing research funding and paying cash up front for rights to drug candidates currently in development at fellow CED Member Liquidia Technologies.

Specific financial terms were not disclosed, however, Liquidia did release a public statement early Wednesday morning that noted that the "collaboration could total up to several hundred million dollars."

The multi-year collaboration gives GlaxoSmithKline the exclusive rights to research and develop vaccine and inhaled product candidates using Liquidia's proprietary  PRINT® (Particle Replication In Non-Wetting Templates) technology.

“The strength of this collaboration is based on the strong and successful heritage of GSK’s vaccine and inhaled therapy franchises and the transformative particle engineering and manufacturing capabilities of Liquidia’s PRINT technology, which when combined, we believe will yield a next generation of life saving therapeutics,” said Liquidia CEO Neal Fowler in a statement.

Great news for the Triangle's life science community.

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