Pharmacopeia identifies another lead compound for GSK
This article was originally published in Scrip
Executive Summary
Pharmacopeiahas identified another lead compound for the treatment of pain through its collaboration withGlaxoSmithKline, which will pay the US-based company a milestone payment worth $500,000 for the compound. Pharmacopeia has worked with GSK's Centre of Excellence for External Drug Delivery since 2006 and has so far identified five leads for advancement for the multinational – most recently a compound with potential for treating respiratory diseases, for which the company received a similar milestone (Scrip online, June 5th 2008). Pharmacopeia stands to earn up to $83 million in milestone payments per project as well as double-digit sales royalties.