GSK and Flagship will initially fund up to €150 million upfront to support an exploratory phase to identify the most promising concepts for further research and development with Flagship's bioplatform companies. Based on these explorations, the partners plan to identify a portfolio of up to 10 novel drugs and vaccines, each with an exclusive option for further clinical development by GSK.

Under the terms of the agreement, Flagship and its bioplatform companies will be eligible to receive up to $720 million in upfront, development and commercial milestones from GSK, as well as preclinical funding and tiered royalties, for each acquired program.

Tony Wood, GSK’s chief scientific officer, said: “Together with Flagship, we will use science and technology to deliver best-in-class innovation at pace.”

Paul Biondi, general partner at Flagship and president, Pioneering Medicines, added: “Flagship and GSK have a shared focus on delivering breakthrough medicines for patients. This collaboration is the latest example of Flagship’s Innovation Supply Chain Partnership model, which is designed to generate transformational medicines together with our pharma partners by leveraging our ecosystem of first-in-category bioplatforms to create a sustainable source of treatments for patients with the greatest unmet needs.”