Glaxo Exercises License Option for Investigational Cancer Treatment

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GlaxoSmithKline PLC (GSK.LN) has exercised an option to obtain a global license for an investigational cancer treatment therapy.

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The pharmaceutical company said Thursday that it will pay up to 48 million pounds ($62.60 million) to Adaptimmune (ADAP) for obtaining a license for investigational SPEAR T-cell receptor therapy for treating NY-ESO-1, a type of cancer tumor.

Glaxo will assume responsibility for all development, manufacturing and commercialization activities for therapy.

Shares of Glaxo at 1143 up 0.1% at 1,508 pence.

Write to Tapan Panchal at tapan.panchal@wsj.com

(END) Dow Jones Newswires

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September 07, 2017 08:04 ET (12:04 GMT)