Immutep (NASDAQ:IMMP) will receive a milestone payment from GlaxoSmithKline (NYSE:GSK) of £4M (~US$5.02M) related to the first patient being dosed in GSK’s Phase II trial evaluating GSK2831781 in ulcerative colitis.
GSK2831781 is derived from Immutep’s IMP731 antibody that was exclusively licensed to GSK. Under the terms of the agreement, Immutep is eligible to receive up to £64M (~US$80.38M) in developmental milestone payments as well as single-digit tiered royalties, if GSK2831781 is commercialized.
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