"GSK's decision to exercise the option to license Five Prime intellectual property with respect to a specific respiratory target further demonstrates the productivity and versatility of Five Prime's unique platform to identify novel targets in a wide range of major diseases," said
The respiratory diseases research collaboration with GSK was established in 2012 to identify new therapeutic approaches to treat refractory asthma and chronic obstructive pulmonary disease (COPD), with a particular focus on identifying novel therapeutic targets. The scope of the
collaboration was expanded in
GSK will have sole responsibility for further development and commercialization of products that incorporate or target the licensed protein target, and for funding any preclinical studies, clinical development, manufacturing and commercialization. Five Prime is eligible to receive up to
GSK is also obligated to pay Five Prime tiered mid- to high-single digit royalties on net sales of each such product related to such target.
The Five Prime discovery platform includes a library of more than 5,700 extracellular proteins believed to encompass substantially all of the body's medically important targets for protein therapeutics. Five Prime is applying all aspects of its biologics discovery platform, including cell-based and in vivo screening, receptor-ligand matching technologies and bioinformatics, to probe its library comprehensively and systematically to discover and develop new therapeutic candidates.
About Five Prime
Cautionary Note on Forward-looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "expect," "plan," "anticipate," "estimate," "intend" and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These forward-looking statements are based on Five Prime's expectations and assumptions as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties. Forward-looking statements contained in this press release include statements regarding (i) GSK's potential development and commercialization of products; and (ii) Five Prime's potential receipt of milestone payments and royalties with respect to these products. Many factors may cause differences between current expectations and actual results including unexpected safety or efficacy data observed during research, preclinical or clinical studies, changes in expected or existing competition, changes in the regulatory, pricing or reimbursement environment, and unexpected litigation or other disputes. Other factors that may cause actual results to differ from those expressed or implied in the forward-looking statements in this press release are discussed in Five Prime's filings with the
Heather RoweInvestor Relations 415-365-5737 email@example.com Amy KendallCorporate Communications 415-365-5776 firstname.lastname@example.org
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