GSK, iTeos to develop cancer drug in up to $2 bln deal (updated)

iTeos Therapeutics

14/06/2021 12:53

(Adds details of deal and treatment, background)
    June 14 (Reuters) - Britain's GlaxoSmithKline Plc  GSK.L 
has agreed to pay up to $2 billion to iTeos Therapeutics Inc
 ITOS.O  to develop and sell a potential cancer treatment
together, the companies said on Monday.
    Boston-based iTeos will receive a $625 million upfront
payment and is eligible to get up to $1.45 billion more if the
programme meets certain development and commercial milestones.
 urn:newsml:reuters.com:*:nGNXRH5Ll
    GlaxoSmithKline is under pressure to shore up its drug
pipeline after a report that U.S. activist investor Elliott
built up a significant stake in the company. The British
drugmaker is also preparing to outline plans to split its
consumer products business from its drug operations. urn:newsml:reuters.com:*:nL1N2ML12K
   
    The iTeos deal is to develop EOS-448, a monoclonal antibody
using an anti-TIGIT agent which showed promise in early studies.
    Anti-TIGIT treatments are new experimental immunotherapies
against certain cancer types. These treatments, including
Roche's tiragolumab and Merck & Co's vibostolimab, are designed
to deactivate a tumour's ability to evade the immune system.
    EOS-448 is currently being tested in an early-stage study in
patients with advanced solid tumors.
    GSK and iTeos plan to start combination studies of EOS-448
with GSK's cancer drug dostarlimab in 2022.  
        

 (Reporting by Vishwadha Chander in Bengaluru; Editing by Devika
Syamnath)
 ((Vishwadha.Chander@thomsonreuters.com; Mobile: +91 7506036802;
Twitter:  https://twitter.com/vishwadha;))