Health
GSK, Flagship Enter Multibillion-Dollar Drug Discovery Deal
- GSK will pay Flagship up to $720 million for each of 10 drugs
- Partners to focus on respiratory and immunology drugs
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GSK Plc and Flagship Pioneering Inc. entered a partnership to develop as many as 10 new drugs in a deal that could pay more than $7 billion to firms supported by the venture capital biotech.
Flagship, which created mRNA Covid-vaccine maker Moderna Inc., and GSK will jointly put $150 million upfront toward exploring new respiratory and immunology treatments, according to a statement Monday. GSK will commit as much as $720 million for each of the 10 drugs, including upfront payments, if they reach all of their development and commercial milestones.