Theravance Advances Respiratory Program via Glaxo Partnership

01 Jan 2003

• By Mark Ratner

The goal of the deal between Glaxo and Theravance is to pool programs in order to develop a best-in-class long-acting beta agonist. That Glaxo is contributing its most advanced compounds to the program and has agreed to pay royalties even on LABAs it may develop separately validates Theravance's technology. But it also shows how Glaxo is weighing the value of external vs. internal R&D.

A company that's raised $370 million in private money over five years yet has only one press release on its web site sounds more like an old school pharma-style operation than the standard entrepreneurial biotech start-up. Indeed, that's the case with Theravance Inc. (formerly Advanced Medicine), which was founded and is chaired by former Merck & Co. Inc. chairman and CEO Roy Vagelos, MD. That solitary press release was the announcement in January of a collaboration with GlaxoSmithKline PLC to develop a long-acting Beta2 agonist (LABA) for the treatment of respiratory disease such as asthma and chronic obstructive pulmonary disease (COPD) [See Deal].

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