GSK expands collaboration with Five Prime Therapeutics
US biotech firm Five Prime Therapeutics (Nasdaq: FPRX) is expanding its respiratory disease research collaboration with UK pharma giant GlaxoSmithKline (LSE: GSK) that was established in 2012 to identify first-in-class agents and new mechanisms for the treatment of refractory asthma and chronic obstructive pulmonary disease (COPD).
The news comes swiftly following GSK reporting underperformance in its respiratory franchise, as generic competition hit its third-quarter 2014 financial results. Shares of Five Prime leapt more than 6% to $12.82 following the news.
Deal could be worth more than $190 million
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