Surface Oncology Inks SRF813 Licensing Deal With GSK For $85 Mln Upfront
LONDON (dpa-AFX) - Surface Oncology Inc. (SURF), a clinical-stage immuno-oncology company, said Thursday it has entered into an agreement for GlaxoSmithKline Plc. (GSK.L, GSK) to exclusively license worldwide development and commercial rights to Surface Oncology s preclinical program SRF813.
SRF813 is a fully human IgG1 antibody targeting PVRIG (also known as CD112R), an inhibitory protein expressed on natural killer cells (NK cells) and T cells. SRF813 is currently in IND-enabling studies with an IND planned for 2021.
Under the terms of the deal, GSK will make an upfront payment of $85 million. In addition, Surface Oncology may receive up to an additional $730 million in future milestone payments and will also be eligible to receive tiered royalties on global net sales.
Surface Oncology Announces Exclusive License Agreement with GSK for Novel Immunotherapy Program
GSK will have exclusive rights to develop and commercialize SRF813, a novel antibody targeting PVRIG
Surface Oncology to receive $85 million upfront payment
CAMBRIDGE, Mass., Dec. 17, 2020 (GLOBE NEWSWIRE) Surface Oncology (Nasdaq: SURF) today announced an agreement for GSK to exclusively license worldwide development and commercial rights to Surface Oncology’s preclinical program SRF813, a fully human IgG1 antibody targeting PVRIG (also known as CD112R), an inhibitory protein expressed on natural killer cells (NK cells) and T cells.
Under the terms of the agreement, GSK will make an $85 million upfront payment. In addition, Surface Oncology may receive up to an additional $730 million in future milestone payments, as well as be eligible to receive tiered royalties on global net sales.
Provided by Dow Jones By Michael Dabaie Surface Oncology Inc. said it is in an agreement for GlaxoSmithKline PLC to exclusively license worldwide development and commercial rights to Surface Oncology s preclinical immunotherapy program SRF813. SRF813 is an IgG1 antibody targeting PVRIG, an inhibitory protein expressed on natural killer cells and T cells. Surface shares were up 7% to $10.70 premarket. Under the deal, GSK will make an $85 million upfront payment. Surface Oncology may receive up to an additional $730 million in milestone payments and be eligible for royalties on net sales. After the close of the GSK license agreement, with current cash and cash equivalents, Surface Oncology said it projects cash runway sufficient to fund operations through 2023.
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