GSK inks $100 million deal with Idera Pharmaceuticals

Idera Pharmaceuticals, Inc. today announced it has entered into an exclusive worldwide collaboration and license agreement with Glaxo Smith Kline to research, develop and commercialize selected molecules from Idera’s third-generation antisense platform for the treatment of selected targets in renal disease. The Cambridge-based company is a clinical-stage biopharmaceutical company developing toll-like receptor and RNA therapeutics for patients with cancer and rare diseases.

“We are excited to be working with GSK to apply our drug discovery and development efforts in renal disease,” said Clayton Fletcher, Idera’s Senior Vice President of Business Development and Strategic Initiatives in a statement. “This collaboration broadens the utility of our third generation antisense platform beyond the stated areas of focus for Idera in cancers and rare diseases.”

Under the terms of the agreement, Idera is eligible to receive approximately $100 million in development and regulatory milestone payments, including a $2.5 million upfront payment. Additionally, Idera is eligible to receive royalties on all sales upon commercialization at varying rates up to five percent on annual net sales in excess of $500 million.

“Importantly, through such collaborations we have the opportunity to strengthen our balance sheet to enable us to further our own clinical development and commercial aspirations,” said Fletcher.

The primary focal point in the collaboration is Idera’s proprietary antisense technology, which enables the company to develop treatments that interfere with RNA communication and alter genetic expression. This results in the successful treatment of diseases that result from gene defects.

“Advances in our understanding of chronic kidney disease have opened up new treatment opportunities,” said John Lepore, GSK Senior Vice President and Head of the Metabolic Pathways and Cardiovascular Therapy Area Unit in a statement. “Idera’s antisense platform offers a new path to explore whether gene silencing technology can help stop or slow chronic kidney disease.”