Compugen To Receive $2 Mln Milestone Payment From AstraZeneca Under License Deal
LONDON (dpa-AFX) - Compugen Ltd. (CGEN), a clinical-stage cancer immunotherapy company, said Wednesday that a preclinical milestone has been achieved under its ongoing license agreement with AstraZeneca plc (AZN, AZN.TO). In connection with this first milestone, Compugen is entitled to receive a $2 million payment from AstraZeneca.
Under the terms of the deal that was entered into in April 2018, Compugen provided an exclusive license to AstraZeneca for the development of bispecific and multi-specific antibody products based on one of Compugen s pipeline programs.
AstraZeneca has the right to create multiple products under this license and is solely responsible for all research, development and commercial activities. Compugen retains all other rights to its entire pipeline of programs as monotherapies and in combination with other products.
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HOLON, Israel, Dec. 23, 2020 /PRNewswire/
Compugen Ltd. (NASDAQ: CGEN), a clinical-stage cancer immunotherapy company and a leader in predictive target discovery, announced today progress from its ongoing license agreement with AstraZeneca (LSE: AZN) (STO: AZN) (NASDAQ: AZN) under which the program has achieved a preclinical milestone. Under the terms of the agreement, Compugen provided an exclusive license to AstraZeneca for the development of bispecific and multi-specific antibody products based on one of Compugen s pipeline programs, with AstraZeneca responsible for all research, development and commercial activities. In connection with this first milestone, Compugen is entitled to receive a $2 million payment from AstraZeneca.