Cambridge biotechnology company Epizyme Inc. said Thursday that it has achieved another milestone payment, this one a $2 million payment from the British pharmaceutical giant GlaxoSmithKline.
In early January, Epizyme shares soared when it disclosed that an experimental cancer drug had performed well enough to earn a payout from the company’s partner, Celgene Corp.
In a Thursday press release, Epizyme announced the achievement of the lead candidate selection milestone for one of the histone methyltransferase targets in the company’s collaboration with GlaxoSmithKline, or GSK. That achievement triggers a milestone payment of $2 million and follows the January announcement of the achievement of a development candidate milestone that triggered a $4 million payment from GSK.
“Epizyme is a leader in the translation of the science of epigenetics into innovative personalized therapeutics for cancer patients,” Robert Copeland, the company’s executive vice president and chief scientific officer, said in a statement. “This milestone reflects the power of our product platform to rapidly move from biological insights to novel therapeutic candidates.”