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GlaxoSmithKline and Tolerx have formed an alliance to develop and commercialize otelixizumab, a monoclonal antibody discovered by the Cambridge, Mass., biotech firm. According to the partners, otelixizumab has potential to treat a range of autoimmune and immune-mediated inflammatory diseases, including type 1 diabetes. Under the deal, Tolerx will receive an up-front payment of $70 million and future payments of as much as $680 million if all targets are met.
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