Biotica strikes significant collaboration deal with GlaxoSmithKline
Client
Biotica Technology Limited
On January 12, 2009, Biotica Technology Limited, a privately-held biotechnology company, announced a significant Collaboration and License Agreement with GlaxoSmithKline to discover, develop and commercialise novel erythromycin-based macrolides in inflammatory diseases.
Under the terms of the agreement, Biotica receives an initial cash payment, and is eligible to receive up to £86 million per compound in success-based development, approval and commercialization milestone payments, as well as tiered royalties on net sales of resulting products. In addition, GSK has made an up front equity investment in a first close of Biotica's Series D financing.
Biotica was advised by Gary Howes of Fasken Martineau.
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