GSK Signs Deal with Concert Pharma to the Tune of $1 Billion
A potentially powerful new technology found a big-pharma sponsor this week as GlaxoSmithKline announced on Tuesday that it had signed a collaboration agreement with three-year-old biotech firm Concert Pharmaceuticals. The deal provides Concert with $35 million up-front and up to a billion dollars in milestone payments. Under the terms of the agreement, Concert will develop three of its compounds through agreed-upon clinical trials, at which point GSK will have an option to obtain an exclusive worldwide license to them. [more...]
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