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Fulcrum Therapeutics Acquires Rights to GSK´s Losmapimod
Wednesday 24 April 2019

24 April 2019 - Massachusetts, US-based biotechnology company Fulcrum Therapeutics has acquired a license agreement with GlaxoSmithKline (GSK) for the development and commercialisation of losmapimod, to advance the investigational drug into a Phase 2b trial as a potential therapy for FSHD, the company said.

Under the terms of the agreement, as payment for the license, GSK received shares of Fulcrum preferred stock representing a high single-digit ownership percentage of the company on a fully diluted basis, and will be eligible to receive future milestone payments and royalties. Additional terms of the transaction were not disclosed.

Losmapimod is a foundational clinical asset for Fulcrum that has the potential to become the first approved therapy that targets the root cause of FSHD.

Facioscapulohumeral Muscular Dystrophy (FSHD), one of the most common muscular dystrophies, is a progressive, degenerative and profoundly disabling disorder estimated to affect about 1 in 8,333 to 1 in 20,000 people globally.

Fulcrum Therapeutics is focussed on discovering and developing therapies to rebalance gene expression.
Details
Date Published: 24/04/2019
Target: License agreement, for the development and commercialisation of losmapimod
Country: UK
Sector: Pharmaceuticals
Type: Corporate acquisition
Financing:
Status: Closed
Vendor: GlaxoSmithKline (GSK)
Buyer: Fulcrum Therapeutics
Comment:
Terms of the deal were not disclosed

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