Wave Life Sciences in Strategic Collaboration With GSK

By Chris Wack

Wave Life Sciences Ltd. said Tuesday it has entered into a strategic collaboration with GSK Plc 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 which enables GSK to advance up to eight programs and Wave to advance up to three programs, using Wave's PRISM platform and GSK's expertise in genetics and genomics.

The collaboration extends Wave's cash runway into 2025.

Under the terms of the agreement, Wave will receive an upfront payment of $170 million, which includes a cash payment of $120 million and a $50 million equity investment.

For the WVE-006 program, Wave is eligible to receive up to $225 million in development and launch milestone payments and up to $300 million in sales-related milestone payments, as well as 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 $175 million in development and launch milestones and $200 million in sales-related milestones, along with tiered sales royalties.

Wave will lead all preclinical research for GSK and Wave programs up to investigational new drug enabling studies. GSK collaboration programs will transfer to GSK for IND-enabling studies, clinical development, and commercialization. The collaboration includes an option to extend the research term for up to three additional years, expanding the number of programs available to both parties.

Wave shares were up 22% to $4.41 in premarket trading.

Write to Chris Wack at [e-mail]

(END) Dow Jones Newswires

December 13, 2022 08:04 ET (13:04 GMT)

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