PHILADELPHIA GlaxoSmithKline and Amira Pharmaceuticals have signed a deal worth as much as $425 million that gives GlaxoSmithKline worldwide rights to develop, make and sell experimental compounds from Amira for respiratory and cardiovascular disease, according to published reports.
One of those compounds, an experimental asthma treatment known as AM103, already has shown promise in early human trials.
Amira could receive as much as $425 million in payments if it meets all of its development and regulatory milestones. It also will receive royalty payments on sales of any of its drugs.
“This is a momentous day in the young life of Amira,” chief executive officer Bob Baltera said in a written statement. “This deal validates the abilities and expertise in Amira to expedite the delivery of novel medicines. We are particularly pleased to have partnered with GSK, one of the leading pharmaceutical companies in the world, and a company that has a strong heritage in the treatment of respiratory diseases.”