GSK Boosts Cancer Portfolio With $2.1 Billion iTeos Pact

GlaxoSmithKline (GSK) is expanding its reach in cancer immunotherapies in a $2.1 billion deal with iTeos Therapeutics to co-develop EOS-448, a monoclonal antibody aimed at getting the body’s immune system to recognize and attack cancer cells.

EOS-448 targets an immune receptor present on some T-cells and natural killer cells that has shown promise as a target for the next generation of immuno-oncology therapies.

Under the agreement, iTeos will get $625 million upfront, followed by up to $1.45 billion in milestone payments if the program to develop the monoclonal antibody bears fruit.

The deal also calls for the two companies to jointly commercialize and equally split profits in the U.S. In other countries, GSK will get an exclusive license and iTeos will get tiered royalty payments.