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July 7, 2014
07:12 EDTCGEN, BAYRYCompugen achieves initial milestone in collaboration with Bayer HealthCare
Compugen Ltd. (CGEN) disclosed hat it has achieved the initial milestone in the cancer immunotherapy collaboration it entered last year with Bayer HealthCare (BAYRY). The collaboration provides for the development and commercialization of therapeutic antibodies against two checkpoint protein candidates discovered by Compugen. The milestone being announced today relates to the first preclinical milestone for one of two checkpoint protein candidates for which Compugen will receive a $1.2M payment out of the $30M potential milestone payments associated with joint preclinical research for the two programs. The collaboration and license agreement provides the framework for the research, development, and commercialization of antibody-based therapeutics for cancer immunotherapy against two novel Compugen-discovered immune checkpoint regulators. Under the terms of the agreement, Bayer and Compugen are jointly pursuing a preclinical research program for each of the two candidates. Subsequently, Bayer will have full control over further development and have worldwide commercialization rights for potential cancer therapeutics. Under the terms of the agreement, Compugen has received an upfront payment of $10M and is eligible to receive over $500M in potential milestone payments for both checkpoint programs, plus an additional $30M of potential milestone payments associated with joint preclinical research for the two programs. Compugen is also eligible to receive royalties on global net sales from any resulting products under the collaboration.
News For CGEN;BAYRY From The Last 14 Days
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