Earlier this week, GlaxoSmithKline announced a $350M deal with UK biotech company Adaptimmune to develop new cancer drugs, specifically in the area of immuno-therapy.
Adaptimmune's immuno-oncology developments -- an area that is being touted as "the next frontier for medical research" -- could potentially build a new generation of oncology treatments that use the body's own immune system to hunt and destroy cancer cells.
GSK's move to collaborate with Adaptimmune in the field of oncology is particularly significant considering GSK recently sold off its cancer business to Novartis in April. The collaboration sends a message to the industry that GSK believes immuno-oncology to be at the cutting edge of research.
GSK is not alone in that belief, as the CEO of Adaptimmune reported earlier that the privately owned company had a choice of five potential partners, including other top drugmakers, but chose GSK because it promised the most collaborative approach, bucking the "checkbook-forward approach" taken by many big pharma companies as they simply buy up smaller biotechs.
Read the CNBC article