24 October 2014 - 24 October 2014 - US protein drugs developer Five Prime Therapeutics (NASDAQ:FPRX) reported yesterday an extension of its respiratory disease alliance with UK GlaxoSmithKline plc (LON:GSK), started in 2012 to discover first-in-class agents and new mechanisms for the treatment of refractory asthma and chronic obstructive pulmonary disease (COPD).

The scope of the partnership was broadened in April 2014 to include two additional respiratory disease discovery programmes for a six-month evaluation period, and GSK has now committed to prolonging the two discovery programs for a further 18 months.

As a result of the expansion, Five Prime will get research funding in the amount of USD 2 million (EUR 1.6m), of which USD 500,000 have already been received. Should GSK license a target discovered by Five Prime within the alliance, the US firm would also be entitled to get up to USD 193.8 million in potential option exercise fees and milestone payments, in addition to tiered royalties on global net sales for each product stemming from a selected drug target.

(USD 1.0 = EUR 0.79)