Frontier Biotechnologies Inc. (“Frontier Biotechnologies” or the “Company”) recently entered into an exclusive licensing agreement with global biopharmaceutical company GlaxoSmithKline (“GSK”). Under the agreement, GSK will obtain exclusive worldwide rights for the development, manufacturing, and commercialization of two siRNA pipeline assets. One candidate drug has reached the Investigational New Drug (IND) application stage, while the other is a preclinical candidate.

This agreement highlights the Company’s expertise in early-stage siRNA drug discovery and development, marking a significant milestone in advancing its global development strategy.

Under the terms of the agreement, the Company will receive an upfront payment of $40 million. It is eligible to receive cumulative milestone payments totaling up to $963 million based on successful development, regulatory, and commercial achievements for the two programs, in addition to tiered royalties on global net sales of the two products.

The Company will be responsible for the early development of the two pipeline assets. This includes advancing Phase I clinical trials for one product in China and completing IND-enabling studies for the other product. GSK will be responsible for all subsequent global clinical development, regulatory filings, and commercialization activities for both products.