GSK pays Epix£2.8m
06 Jun 2008
GlaxoSmithKline (GSK) has paid Epic Pharmaceuticals $5.5 million (£2.8 million) as the company has reached a key milestone related to a discovery programme that it runs in partnership with GSK.
The UK-based pharmaceutical company previously paid Epix a total of $6 million for progress made on two discovery programmes, and now the company will receive payment for identifying three lead candidates in the third programme.
"Our in silico approach to drug discovery continues to deliver results and has allowed us to rapidly progress lead candidates into lead optimisation programs," said Sheila DeWitt, vice-president of discovery at Epix.
She went on to say that the company is "pleased with the timeliness and effectiveness" of its work in collaboration with GSK and that Epic has "now identified candidates in all three of our GPCR discovery programmes".
Earlier this week, GSK announced that it has paid Vertex Pharmaceuticals $160 million for the future royalty rights to two HIV drugs, Lexiva and Agenerase.
