GSK type 1 diabetes drug fails in late stage trials

GSK’s investigational type 1 diabetes drug otelixizumab has failed to meet goals set for a phase III clinical trial and the company is now regrouping with Tolerx, its partner on the drug candidate.

A type 1 diabetes drug under development by GlaxoSmithKline has failed in late stage clinical trials.

GSK (NYSE:GSK) announced Friday that otelixizumab, an investigational compound for type 1 diabetes, did not meet the primary efficacy endpoint for the phase III clinical trial. London-based GSK, which has its U.S. headquarters in Research Triangle Park, North Carolina, has been developing the diabetes compound in partnership with Cambridge, Massachusetts-based Tolerx.

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In 2007, the companies entered into a collaboration valued at up to $750 million, including a $70 million upfront payment to Tolerx. The deal gave Tolerx the option to co-promote otelixizumab in type 1 diabetes in the United States with GSK. GSK would have exclusive rights to develop and commercialize the drug worldwide for type 1 diabetes and other indications.

GSK said it will continue to explore future clinical development for otelixizumab. Tolerx has said the compound is believed to have potential across a range of autoimmune and immune-related inflammatory diseases.

“Clearly these are disappointing data, but we are committed to working with Tolerx to better understand the results of this study and determine the way forward,” Jackie Parkin, GSK’s medicines development leader, said in a prepared statement.