Liquidia Technologies has initiated multi-year product development collaboration with GlaxoSmithKline (GSK).
Under the collaboration, GSK acquired exclusive rights to research and develop certain vaccine and inhaled product candidates using Liquidia's proprietary Particle Replication In Non-Wetting Templates (PRINT) technology.
The nanoparticle technology product development and manufacturing platform has the potential to enable the development of novel products and a range of manufacturing paradigms.
Liquidia chief executive officer Neal Fowler said, "The strength of this collaboration is based on the strong and successful heritage of GSK's vaccine and inhaled therapy franchises and the transformative particle engineering and manufacturing capabilities of Liquidia's PRINT technology, which when combined, we believe will yield a next generation of life saving therapeutics."
As per the agreement, Liquidia will receive an upfront payment, consisting of cash and equity, R&D funding, in addition to potential for additional licensing fees, development milestones, and royalties.
Liquidia has also retained the ability to independently develop certain respiratory and vaccine products in addition to using the PRINT platform to develop products in other therapeutic areas.