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GlaxoSmithKline signs global license agreement for HIV treatment

06 Feb 2009

GlaxoSmithKline and Idenix Pharmaceuticals have signed a license agreement which grants the former exclusive global rights to IDX899, a non-nucleoside reverse transcriptase inhibitor being developed by the latter for the treatment of HIV.

Under the terms of the deal, GlaxoSmithKline will assume all development responsibility for the drug, as well as associated costs. Meanwhile, Idenix will receive a payment of €34 million (£23.1 million).

It will also be eligible to receive as much as $416 million in sales, regulatory and development milestones.

Chief executive of Idenix Jean-Pierre Sommadossi said GlaxoSmithKline is the "ideal" party to help maximise the treatment''s potential.

"The significant value created through the license of IDX899 enables us to focus all of our resources on advancing our core strategic HCV assets, which include drug candidates from the three major classes of direct-acting HCV antivirals," he added.

In recent days, GlaxoSmithKline announced the submission of a marketing authorisation application for its leukaemia treatment Arzerra.