Epizyme allies with GlaxoSmithKline
Epizyme, a Cambridge life sciences company, announced a worldwide strategic alliance with GlaxoSmithKline, a large drug maker, that will result in Epizyme receiving a $20 million up-front payment.
The goal of the alliance is to "discover, develop, and market novel small molecule therapeutics targeting histone methyltransferases (HMTs), an important class of epigenetic enzymes, for the treatment of cancer and other diseases," Epizyme said in a press release.
Under the alliance agreement, Epizyme said it is eligible to receive more than $630 million in total milestone payments if medicines are commercialized for all targets in the collaboration. Epizyme also said it is eligible to receive up to double-digit royalties on net sales of products resulting from the alliance.
Along with the up-front payment, Epizyme said it is also receiving additional research payments; the value of the additional research payments is not being disclosed.
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