PALO ALTO, Calif. GlaxoSmithKline and Anacor Pharmaceuticals have entered into an agreement for the discovery, development and commercialization of novel medicines for viral and bacterial diseases.
Under the agreement, Anacor will allow GlaxoSmithKline options to select product candidates developed under the collaboration that are in the range of four to eight product options. Anacor will be responsible for the discovering and development of boron-containing small molecules.
Anacor will have the right to further develop and commercialize products for which GlaxoSmithKline does not exercise its option. It will also receive $22 million in upfront and equity payments from GlaxoSmithKline. They will also be eligible to receive payments of up to $331 million for each product candidate.
“We are pleased that GlaxoSmithKline, an industry leader in the development and commercialization of anti-infective drugs has acknowledged the potential of our boron-based chemistry for systemic applications,” said David Perry, president and chief executive officer of Anacor.