GSK, iTeos to develop cancer drug in up to $2 billion deal By Reuters
(Reuters) -Britain's GlaxoSmithKline Plc has agreed to pay up to $2 billion to iTeos Therapeutics Inc to develop and sell a potential cancer treatment together, the companies said on Monday. Boston-based iTeos will receive a $625 million upfront payment and is eligible to get up to $1.45 billion more if the programme meets certain development and commercial milestones. GlaxoSmithKline is under pressure to shore up its drug pipeline after a report that U.S. activist investor Elliott built up a significant stake in the company. The British drugmaker is also preparing to outline plans to split its...
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