GSK, Empirico enter license agreement for EMP-012

GSK (GSK) and Empirico announced that they have entered into a worldwide exclusive license agreement for EMP-012, a selective first- and potentially best-in-class siRNA, a type of oligonucleotide. EMP-012 addresses a novel therapeutic target and is currently in a phase I trial for the treatment of chronic obstructive pulmonary disease, COPD, with the potential for expansion into other inflammatory respiratory diseases. The agreement grants GSK full worldwide development and commercial rights to EMP-012. Empirico will continue to lead the clinical development of EMP-012 through the completion of the ongoing phase I clinical trial, following which GSK will assume responsibility for worldwide development, regulatory filings, and commercialisation. GSK will pay an $85 million upfront payment and up to $660 million in success-based development, regulatory and commercial milestones, as well as tiered royalties on net sales worldwide.