Diversa Corporation has signed an agreement with GlaxoSmithKline to advance the development of an anti-infective compound initially discovered by GSK. This agreement represents an innovative approach to leverage and integrate core capabilities in process development and drug development of the respective companies to advance a novel anti-infective compound, according to a release.

Under the terms of this agreement, Diversa will have the primary responsibility to develop the chemistry processes required to advance the compound into clinical development. Upon achievement of specific performance criteria by Diversa, GSK will have the option to further develop this compound and obtain exclusive worldwide commercialization rights in exchange for milestone payments, option and license fees, and royalties to Diversa. If GSK decides not to exercise this option, then Diversa will obtain development and commercialization rights to the compound in exchange for royalties to GSK, the release continued.

"We look forward to working on this important anti-infective compound, which is complementary with our anti-infective focus and our strategy of pursuing therapeutics to treat serious, hospital-based infections," said Dr. Jay M Short, Diversa's president and CEO.

Diversa Corporation is involved in applying proprietary genomic technologies for the rapid discovery and optimization of novel protein-based products. Diversa has established alliances and joint ventures with market leaders, such as BASF, Bayer Animal Health, The Dow Chemical Company, DSM Pharma Chemicals, DuPont Bio-Based Materials, Givaudan Flavors Corporation, GlaxoSmithKline, Invitrogen Corporation, Medarex, and XOMA.