Japan Tobacco Inc. (JT) announced that the company has signed a licensing agreement with GlaxoSmithKline (GSK) under which GSK will obtain the exclusive, worldwide rights to manufacture, develop and commercialize JT's drug candidate in the area of MEK inhibition, which is now under preclinical study in Japan, a JT release said.
MEK (MARK/ERK kinase) is a protein kinase that is located downstream of the cell surface receptors of the growth factors, and transmits the growth and differentiation signals to the nucleus. MEK inhibitors work by blocking MEK, an enzyme that is involved in cell proliferation, and are expected to be developed in the field of cancer and inflammation.
Under the terms of the agreement, JT will have the right to co-promote the product in Japan. JT will receive an upfront payment and could receive additional cash payments upon the achievement of certain milestones, and royalties based on product sales.
Japan Tobacco Inc. is the world's third largest international manufacturer of tobacco products. Since its privatization in 1985, JT has actively diversified its operations into pharmaceuticals and foods. JT entered into the pharmaceutical business in 1987 and established the Central Pharmaceutical Research Institute in 1993. JT is currently engaged in the research and development of new drugs in various areas such as glucose and lipid metabolism, anti-virus, immune disorders and inflammation, and bone metabolism. The company's net sales were JPY 4.664 trillion in the fiscal year that ended March 31, 2005.