ChemoCentryx, Inc., today announced that GlaxoSmithKline (GSK) has exercised its option to obtain an exclusive license for further development and worldwide commercialization of the investigational medicine CCX354, a potent and selective inhibitor of CCR1, a chemokine receptor that drives the recruitment of inflammatory cells into the joints of patients with rheumatoid arthritis (RA). ChemoCentryx recently reported positive results from a Phase II clinical trial with CCX354 which investigated the safety, tolerability, clinical and biological activity of this compound in patients with RA.
Under the terms of the collaboration, ChemoCentryx will receive an option exercise fee of $25 million and will be eligible for further regulatory and sales milestone payments. Subject to successful development and commercialization of CCX354, ChemoCentryx will also receive double-digit royalties on net sales. GSK will now be solely responsible for funding further clinical development and commercialization for CCX354 worldwide.
"This announcement is a key milestone for ChemoCentryx that further validates our ability to advance new medicines from drug discovery through clinical development," said Thomas J. Schall, Ph.D., President and Chief Executive Officer of ChemoCentryx. "Furthermore, the exercise fee associated with this agreement provides additional financial flexibility to our already strong balance sheet. GSK's continued enthusiasm and interest in our programs expands our relationship and highlights our belief in the tremendous potential of our innovative products. GSK's global reach and financial commitment will be invaluable to the advancement of CCX354 through the rest of its development."
This transaction represents the second product licensing opportunity resulting from the original collaboration with ChemoCentryx through GSK's Centre of Excellence for External Drug Discovery (CEEDD). GSK previously exercised its option to license ChemoCentryx's CCX282-B (Traficet-EN), now designated GSK1605786 (also called GSK'786), a novel, orally active CCR9 inhibitor, for the treatment of inflammatory bowel disease, in January 2010.
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