This week, NYC-based Immune Response BioPharma, Inc. announced that the company has terminated partnering discussions on its multiple sclerosis vaccine NeuroVax with GlaxoSmithKline. The news per se may not trigger a lot of interest – but the company has managed to create a significant buzz around its announcement, with CEO David Buswell stating that (quote from corporate press release):
“GSK is a joke and seems very ignorant on how multiple sclerosis drugs work and how to develop one, we gave them a chance to develop NeuroVax but their management appears to be very poor. We have decided to terminate any collaboration or development with GSK. GSK is a loser in the MS market and will continue to be a loser.”
When we first saw this press release, we immediately did some research to verify if it was a joke or not. However, it was posted on the company’s website on May 24. While the CEO certainly has shut the door for any further discussions with GSK, the PR has generated a lot of attention in the industry and everyone will be out following the company and the further fate of its compound. Still, we believe that the impact on Immune Response BioPharma´s corporate reputation will not be as positive as the buzz suggests.
What was your first thought when you read this statement?