Immutep will receive a milestone payment from GSK of £4 million (approximately US$5.02 million) related to the first patient being dosed in GSK’s Phase II clinical trial evaluating GSK2831781 for ulcerative colitis.
GSK2831781 is derived from Immutep’s IMP731 antibody, a depleting anti-LAG antibody technology that was exclusively licensed to GSK. Under the terms of the agreement, Immutep is eligible to receive up to £64 million (approximately US$ 80.38 million) in developmental milestone payments as well as single-digit tiered royalties, if GSK2831781 is commercialized. GSK is responsible for all costs associated with the clinical development and commercialization of GSK2831781.
“It is very encouraging to see GSK advancing their product candidate in a phase II clinical trial for ulcerative colitis, further validating LAG-3 as a potential target for therapeutics in autoimmune diseases,” Immutep CEO Marc Voigt, said. “These partner milestone payments are an important source of nondilutive funding to the Company and this capital will be deployed to further advance our extensive development programs.”
GSK2831781 is a depleting anti-LAG antibody that was derived from IMP731 and was licenced to GSK in 2010.
IMP731 and GSK2831781 are designed to specifically deplete potentially pathogenic, recently activated LAG-3 expressing T cells which are enriched at the disease site in T cell driven immuno-inflammatory disorders and should spare other T cells which may be necessary for other functions.