Wave Life Sciences in Strategic Collaboration With GSK
14 December 2022 - 12:19AM
Dow Jones News
By Chris Wack
Wave Life Sciences Ltd. said Tuesday it has entered into a
strategic collaboration with GSK Plc to advance oligonucleotide
therapeutics, including Wave's preclinical RNA editing program
targeting alpha-1 antitrypsin deficiency, WVE-006.
The discovery collaboration has an initial four-year research
term.
The collaboration includes two main components. The first is a
discovery collaboration which enables GSK to advance up to eight
programs and Wave to advance up to three programs, using Wave's
PRISM platform and GSK's expertise in genetics and genomics.
The collaboration extends Wave's cash runway into 2025.
Under the terms of the agreement, Wave will receive an upfront
payment of $170 million, which includes a cash payment of $120
million and a $50 million equity investment.
For the WVE-006 program, Wave is eligible to receive up to $225
million in development and launch milestone payments and up to $300
million in sales-related milestone payments, as well as tiered
sales royalties. Development and commercialization responsibilities
will transfer to GSK after Wave completes the first-in-patient
study.
For each of GSK's eight collaboration programs, Wave will be
eligible to receive up to $175 million in development and launch
milestones and $200 million in sales-related milestones, along with
tiered sales royalties.
Wave will lead all preclinical research for GSK and Wave
programs up to investigational new drug enabling studies. GSK
collaboration programs will transfer to GSK for IND-enabling
studies, clinical development, and commercialization. The
collaboration includes an option to extend the research term for up
to three additional years, expanding the number of programs
available to both parties.
Wave shares were up 22% to $4.41 in premarket trading.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
December 13, 2022 08:04 ET (13:04 GMT)
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