GlaxoSmithKline Plc, the U.K.’s biggest drugmaker, will collaborate with GlycoVaxyn AG to develop new anti-bacterial conjugate vaccines, an $8 billion market.
The closely held company will receive an upfront payment and an equity investment from Glaxo, which has an option to obtain an exclusive license on vaccines they work on during a three-year collaboration period, Schlieren, Switzerland-based GlycoVaxyn said in a statement today. The company is also eligible to receive milestone payments and royalties if the vaccines win regulatory approval. Financial terms weren’t disclosed.
GlycoVaxyn focuses on vaccines against common severe bacterial infections. Its most advanced program is a vaccine against the Shigella bacterium, which causes dysentery and bloody diarrhea. Pre-clinical candidates include vaccines to prevent hospital infections and E. coli.
“Collaboration with a vaccine industry leader confirms the potential of our platform to generate new complex vaccines,” GlycoVaxyn Chief Executive Officer Philippe Dro said in the statement.
GlycoVaxyn uses recombinant DNA technology that allows it to target bacterial diseases for which effective vaccines don’t yet exist, according to the company. Investors in GlycoVaxyn include Sofinnova Partners, Index Ventures and Edmond de Rothschild Investment Partners.