British drugmaker GlaxoSmithKline PLC will receive up to $94 million from the U.S. Department of Health and Human Services to support research and clinical testing for an antibiotic discovered by Anacor Pharmaceuticals Inc.
The money will help evaluate the antibiotic, labeled GSK ‘052, against bioterrorism threats. It also will fund a mid-stage trial for ventilator-associated pneumonia and a late-stage study for complicated intra-abdominal infections, according to Palo Alto, Calif.-based Anacor. The funding for up to four years comes from the department’s Biomedical Advanced Research and Development Authority.
GSK ‘052 targets a bacterial enzyme needed for protein synthesis. Anacor licensed the compound to Glaxo last year and received an option exercise fee of $15 million. It also is eligible for future development milestone payments of up to $75.5 million and commercial milestone payments of up to $175 million as well as royalty payments. Glaxo is responsible for development and commercialization of GSK ‘052.
Glaxo’s U.S. shares rose 14 cents to $41.69 in premarket trading.