Idera to earn over $100 million in deal with GlaxoSmithKline
USA-based Idera Pharmaceuticals (Nasdaq: IDRA) saw its shares gain 8.8% to $3.47 in morning trading yesterday, after it announced it has entered into an exclusive worldwide collaboration and license agreement with UK pharma major GlaxoSmithKline (LSE: GSK) to research, develop and commercialize selected molecules from Idera’s third-generation antisense platform for the treatment of selected targets in renal disease.
“We are excited to be working with GSK to apply our drug discovery and development efforts in renal disease. This collaboration broadens the utility of our third-generation antisense platform beyond the stated areas of focus for Idera in cancers and rare diseases,” stated Clayton Fletcher, Idera’s senior vice president of business development and strategic initiatives. “Importantly, through such collaborations we have the opportunity to strengthen our balance sheet to enable us to further our own clinical development and commercial aspirations,” he pointed out
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