April 12, 2018 / 7:08 AM / 5 months ago

BRIEF-GSK To Transfer Rare Disease Gene Therapy Portfolio To Orchard Therapeutics

April 12 (Reuters) - GlaxoSmithKline PLC:

* GSK SIGNS STRATEGIC AGREEMENT TO TRANSFER RARE DISEASE GENE THERAPY PORTFOLIO TO ORCHARD THERAPEUTICS

* GSK TAKES 19.9 PCT EQUITY STAKE IN ORCHARD AND SEAT ON BOARD

* GSK TO RECEIVE FINANCIAL CONSIDERATIONS IN FORM OF ROYALTIES AND COMMERCIAL MILESTONE PAYMENTS RELATED TO ACQUIRED PORTFOLIO

* BOTH COS AGREED TO A TRANSITION PERIOD DURING WHICH GSK WILL CONTINUE TO CONDUCT CERTAIN ACTIVITIES THROUGH TO END OF 2018

* ORCHARD TO ASSUME OBLIGATIONS ARISING FROM GSK'S 2010 COLLABORATION AGREEMENT WITH OSPEDALE SAN RAFFAELE, FONDAZIONE TELETHON

* ORCHARD TO ALSO ASSUME ALL OBLIGATIONS ARISING FROM GSK'S COLLABORATION AGREEMENT WITH MOLMED Further company coverage:

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