Shares of GlaxoSmithKline PLC (GSK) rose 1.9% in early Monday trading following the company's announcement of a licensing agreement with Syndivia. The deal grants GSK exclusive global rights to develop and commercialize Syndivia's preclinical antibody-drug conjugate (ADC) targeting metastatic castration-resistant prostate cancer (mCRPC), with potential milestone payments reaching £268 million.
This agreement strengthens GlaxoSmithKline's oncology pipeline, particularly in advanced prostate cancer therapeutics. The ADC candidate represents a promising addition to GSK's existing cancer treatment portfolio.