Benzinga -
- Wave Life Sciences Ltd (NASDAQ: WVE) and GSK plc (NYSE: GSK) have announced a strategic collaboration to advance oligonucleotide therapeutics, including Wave's preclinical RNA editing program targeting alpha-1 antitrypsin deficiency, WVE-006.
- The discovery collaboration has an initial four-year research term.
- The collaboration includes two main components. The first is a discovery collaboration that enables GSK to advance up to eight programs and Wave to advance up to three programs.
- In addition to these programs, GSK receives the exclusive global license for Wave's preclinical program, WVE-006.
- Wave will receive an upfront payment of $170 million, including $120 million in cash and a $50 million equity investment.
- For the WVE-006 program, Wave is eligible to receive up to $225 million in development and launch milestones, up to $300 million in sales-related milestone payments, and tiered sales royalties.
- Development and commercialization responsibilities will transfer to GSK after Wave completes the first-in-patient study.
- For each of GSK's eight collaboration programs, Wave will be eligible to receive up to $130-$175 million in development and launch milestones and $200 million in sales-related milestones, along with tiered sales royalties.
- Price Action: WVE shares are up 21.9% at $4.40 on the last check Tuesday.