GSK has announced a strategic licensing agreement with US-based Empirico to acquire global development and commercialisation rights to EMP-012, a first-in-class small interfering RNA (siRNA) therapy currently in Phase I clinical trials for chronic obstructive pulmonary disease (COPD).

Under the terms of the agreement, GSK will make an upfront payment of $85 million to Empirico. The company will also be eligible to receive up to $660 million in development, regulatory, and commercial milestone payments, bringing the total potential deal value to $745 million. In addition, Empirico will receive tiered royalties on future global net sales of EMP-012.

EMP-012 represents a promising new approach in respiratory medicine. The siRNA targets an undisclosed, distinct inflammatory pathway that could provide therapeutic benefits independent of baseline type 2 inflammation, smoking status, or co-morbidities. This novel mechanism of action could offer a breakthrough treatment option for COPD patients with non-type 2 inflammation—a group for whom few effective therapies currently exist.

The deal reinforces GSK’s leadership in respiratory care and builds upon the company’s expanding COPD portfolio, which recently saw the addition of its blockbuster biologic Nucala (mepolizumab). Approved by the US Food and Drug Administration (FDA) for COPD in May 2025, Nucala is forecast by GlobalData to generate $3.4 billion in annual sales by 2034. It now joins Sanofi and Regeneron’s Dupixent (dupilumab) in addressing unmet needs in COPD treatment, with Dupixent expected to peak at $6.57 billion in 2033.

The agreement with Empirico highlights GSK’s growing commitment to RNA-based therapeutics. The company joins several major pharmaceutical players investing in siRNA innovation, including Novartis, AbbVie, and Eli Lilly, all of whom have signed significant partnerships in 2024 and 2025 to expand their RNA therapy pipelines.

The rise of such high-value collaborations also reflects a broader trend across the pharmaceutical industry. GlobalData reports a surge in licensing activity worldwide, particularly for assets originating from Asia. Licensing agreements with Chinese biotechs grew by 66 per cent in 2024, reaching $41.5 billion, while deals involving South Korean firms jumped 113 per cent in 2025 following new government-led biotech initiatives.

As GSK continues to advance its leadership in respiratory medicine and RNA therapeutics, the company’s collaboration with Empirico positions it at the forefront of innovation aimed at transforming care for millions of patients living with chronic respiratory conditions.