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Article: Vitae, GSK Enter Collaboration To Develop Renin Inhibitors.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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West Coast Editor
Talk about making the pulse race: Privately held Vitae Pharmaceuticals Inc., with its renin inhibitor program still in the preclinical stage, nailed down a potential $175 million deal with GlaxoSmithKline plc to develop drugs for hypertension and related cardiovascular disorders.
Under the terms, Vitae gets an up-front payment comprised of cash and an equity investment, along with funding of research and payments as milestones are reached, plus royalties on any resulting compounds. Vitae retains the right to co-promote products.
Jeff Hatfield, CEO of Fort Washington, Pa.-based Vitae, said London-based GSK prohibited him from ...