GlaxoSmithKline has optioned the rights to five anti-viral treatments currently under development by Santaris Pharma.
Santaris, based in Copenhagen, Denmark, is developing a series of compounds that interfere with a virus' RNA and therefore its ability to replicate and spread.
"This alliance has the ability to accelerate our drug discovery programs against multiple infectious disease targets," said Dr Zhi Hong, Senior Vice President and Head of GlaxoSmithKline's Infectious Diseases Centre of Excellence for Drug Discovery.
The deal is structured with an up-front payment of $3 million and an equity investment of $5 million. As Santaris meets milestones that bring treatments closer to market, it could receive higher payments that in total could be worth $700 million. Each compound has its own set of payments, according to the alliance. The deal was announced Dec. 19.
GlaxoSmithKline's U.S. headquarters are located in Research Triangle Park and Philadelphia, Pa.
Read the full news release.