GSK exercises option for inhaled therapeutics from Liquidia

Privately-held US biotech firm Liquidia Technologies today announced that UK pharma major GlaxoSmithKline (LSE: GSK) has exercised its option under a collaboration and option agreement signed in 2012.

The accord provided to exclusively license the right to research, develop, and commercialize inhaled therapeutics derived from the company's proprietary PRINT technology. Through this collaboration, Liquidia and GSK will continue to work together with the goal of advancing inhaled therapeutics into clinical studies.

According to the 2012 agreement, Liquidia was granted an undisclosed upfront payment comprised of cash and equity, R&D funding and potential development milestones and royalties. As a result of the GSK decision to exercise the option, Liquidia will receive an option fee, continued R&D funding, and potential product-based development and regulatory milestone payments. Liquidia has also retained the ability to independently develop an inhaled treatment for a particular disease field.