Privately-held Boston Pharmaceuticals has announced a three-year out-license and option agreement with GlaxoSmithKline Plc GSK to advance pre-phase 2 programs. Initially, GSK will out-license and option two programs to Boston Pharmaceuticals:

• GSK3903371, a monoclonal antibody targeting the Interleukin-1 Receptor Accessory Protein, a tumor-associated antigen driving tumor growth and immunosuppression.
• GSK3502421, a small molecule inhibitor for potential neurological disorders, targets Receptor Interacting Serine/Threonine Kinase 1, a key component of the TNF-driven inflammation necroptosis pathway.
• Under the agreement, Boston Pharmaceuticals will be responsible for the further development of select programs through proof-of-concept. Following the completion of these studies, GSK will have the option to reacquire each program under pre-agreed terms for subsequent development and worldwide commercialization.
• If GSK exercises its repurchase option, Boston Pharmaceuticals will receive a one-time payment and be eligible for approval and sales milestones and royalties.
• If GSK chooses not to reacquire a program, Boston Pharmaceuticals may continue developing and potential commercialization of the program. GSK will then be eligible to receive milestones and royalty payments.
• Price Action: GSK shares are trading 0.36% higher at $36.48 in premarket trading on the last check Thursday.