GlaxoSmithKline returns Duchenne drug rights to Prosensa

13 January 2014

UK pharma giant GlaxoSmithKline (LSE: GSK) says that its partner, Dutch biotech firm Prosensa (Nasdaq: RNA) has regained all rights from GSK to drisapersen and will retain rights to all other programs for the treatment of Duchenne muscular dystrophy (DMD). Shares of Prosensa slumped 19.1% to 4.54 euros by mid-afternoon trading on the news.

This transfer of rights represents the termination of the collaboration agreement between GSK and Prosensa executed in 2009, and worth a potential $680 million (The Pharma Letter October 14, 2009). Prosensa will now have the full, unencumbered rights to continue the development of drisapersen as well as each of its DMD programs.

Last fall, GSK and Prosensa announced that results of a Phase III study (DMD114044) of drisapersen in boys with DMD did not meet the primary endpoint, news which caused the Dutch to go into free-fall, shedding 74% of their value to $6.34 (TPL September 23, 2013).

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