GSK and Tanabe to collaborate on development and commercialisation of preclinical products
Tanabe Seiyaku Co, Ltd. and GlaxoSmithKline plc (GSK) today announce that they have signed a letter of intent to enter into a broad-ranging global collaboration on the research, development and commercialisation of a series of compounds from Tanabe, which covers a range of potential therapeutic areas, including psychiatry, neurology, urology and diabetes.
The terms of the Agreement remain to be finalised, but under the letter of intent, GSK will gain access to pre-clinical compounds, with the possibility of bringing additional new Tanabe compounds within the scope of the collaboration at a later date. This world-wide collaboration will allow Tanabe and GSK to share commercialisation rights in specific territories. GSK and Tanabe will form an Executive Steering Committee to oversee the research, development and marketing of the compounds.
"This collaboration with GlaxoSmithKline will promote our effort to revitalize our research organization, to maximize the efficiency of drug discovery process and to speed up the R&D operations in developing innovative products" said Mr. Shoei Nakashima, Senior Managing Director, Tanabe Seiyaku Co., Ltd.
"This agreement is another example of excellent synergy between GSK's expertise in research, development and commercialisation with that of Tanabe's strong scientific endeavours, so that together we can maximise the worldwide potential of promising new compounds", said Dr. Tadataka Yamada, Chairman, Research & Development, GlaxoSmithKline.
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