30.09.2009
Cellzome Announces Achievement of Fourth Milestone in Inflammation Alliance with GlaxoSmithKline
CAMBRIDGE, United Kingdom, HEIDELBERG, Germany, September 30, 2009 - Cellzome Inc. announced today that it has successfully achieved the fourth milestone in its strategic alliance with GlaxoSmithKline. The achievement of this milestone triggers a further payment from GlaxoSmithKline. The amounts of these payments are undisclosed. In September 2008, Cellzome and GlaxoSmithKline announced the signing of a worldwide strategic alliance which uses Cellzome’s drug discovery and development capabilities and its proprietary Kinobeads™ technology to identify, develop and market novel, kinase-targeted therapeutics to treat inflammatory diseases. GSK has exclusive options to license drug candidates from Cellzome’s kinase programs directed against seven targets. Cellzome will develop these programs to clinical proof of concept, unless GSK elects to exercise its option earlier. Cellzome is eligible to receive success-based milestones from GSK as product candidates are advanced. Earlier milestones in the alliance were announced in December 2008 and March 2009. Tim Edwards, CEO of Cellzome, said: "We continue to make excellent progress in our collaboration with GSK. Both teams are aligned and working very well together."


