Epix (Nasdaq: EPIX) will get $35 million upfront
from Glaxo (NYSE: GSK) to produce a number of
drugs including one that treats early stage
Alzheimer's disease. The companies said in a
joint statement that Epix would be eligible to
earn a potential $1.2 billion "based on the
achievement of certain discovery, development,
regulatory and commercial milestones."
Epix has research facilities in Israel, $17.5
million. It will also get royalties on Glaxo's
sales of drugs produced through the venture.
Epix said it had been on the lookout for a
partner. with vast experience in clinical
development and commercialization. Glaxo was the
ideal partner for the continued development of
our 5-HT4 Alzheimer's program," said Epix chief
business officer Chen Schor.