Epizyme (EPZM) announced it has earned an $8M milestone payment from GlaxoSmithKline (GSK). The milestone payment follows GSK’s initiation of patient dosing in a Phase 1 clinical trial of GSK3368715, a first-in-class protein arginine methyltransferase inhibitor discovered by Epizyme and licensed to GSK. PRMT1 has been implicated in a number of human cancers. Under the terms of its collaboration and license agreement with GSK, Epizyme granted GSK exclusive worldwide license rights to methyltransferase inhibitors directed to three targets. Using its proprietary drug discovery platform, Epizyme discovered and optimized compounds targeting three methyltransferases. During the research term of the collaboration, which has been completed, Epizyme was primarily responsible for preclinical research on such compounds. GSK is responsible for subsequent research, development and commercialization of each program. Epizyme has earned an aggregate of $89M in up-front, research and milestone payments to date, and may receive up to an additional $375M from GSK if all remaining milestones are met. Epizyme is eligible to receive up to double-digit royalties on worldwide net sales of collaboration products.
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