Surface Oncology in licensing deal with Glaxo for immunotherapy program

 

• Surface Oncology (NASDAQ:SURF) inks an agreement with GlaxoSmithKline (NYSE:GSK) for worldwide development and commercial rights to its preclinical program SRF813.
• Under the terms of the agreement, Surface Oncology will receive an upfront payment of $85M, potential milestone payments of $730M, as well as be eligible to receive tiered royalties on global net sales.
• “Furthermore, the economics of the transaction position us well to continue to drive the development of our wholly-owned clinical programs, SRF617 and SRF388, while also advancing SRF114, our CCR8 targeted program,” said Jeff Goater, CEO at Surface Oncology.
• “We believe this transaction is further validation of our strong immuno-oncology drug discovery capabilities.” he added.
• 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.
• https://seekingalpha.com/news/3645228-surface-oncology-shares-rise-7-on-licensing-deal-gsk-for-immunotherapy-program