23andMe Announces Collaboration Extension With A New Data Licensing Agreement With GSK; 23andMe Will Receive A $20M Upfront Payment For A One Year, Non-Exclusive Data License
Portfolio Pulse from Benzinga Newsdesk
23andMe (NASDAQ:ME) has extended its collaboration with GSK (NYSE:GSK) through a new, non-exclusive data license. The agreement allows GSK to use the 23andMe database for drug target discovery and other research. 23andMe will receive a $20 million upfront payment for a one-year license, which includes access to certain services such as further analyses of the 23andMe data. Any new drug discovery programs initiated by GSK during the agreement will be owned solely by GSK, but 23andMe may be eligible for downstream royalties.
October 30, 2023 | 12:11 pm
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POSITIVE IMPACT
GSK's extended collaboration with 23andMe and access to its database for drug target discovery and other research could potentially accelerate its drug development process and positively impact its stock price in the short term.
The news of the extended collaboration and access to 23andMe's database could potentially accelerate GSK's drug development process. This could lead to positive investor sentiment and a potential increase in its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
23andMe's extended collaboration with GSK and the $20M upfront payment for a one-year data license could boost its revenues and potentially its stock price in the short term.
The news of the extended collaboration and the $20M upfront payment from GSK is positive for 23andMe. This could lead to increased revenues for the company, which could positively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100