GSK shares lift on prostate cancer deal

(Sharecast News) - GSK shares lifted on Monday after the pharmaceutical giant signed a deal with French biotech Syndivia for a potential treatment for prostate cancer. The company acquired exclusive worldwide rights to develop and sell the treatment for metastatic castration-resistant prostate cancer that is currently in pre-clinical studies.

GSK said the drug, would complement its pipeline for prostate cancer medicines.

Syndivia's ADC has already proven its effectiveness at shrinking tumors in preclinical studies "without causing a proportional increase in significant side effects, even at higher doses, the company said in a statement.

Reporting by Frank Prenesti for Sharecast.com