NewLink Genetics out-licenses NLG919 to Genentech
US biotech firm NewLink Genetics (Nasdaq: NLNK) saw its share price rocket 21.2% in morning trading today, after it announced a deal with Genentech on an early-stage cancer program which could earn NewLink more than $1.15 billion.
NewLink has entered into an exclusive worldwide license agreement with Swiss pharma major Roche’s (ROG: SIX) subsidiary Genentech for the development of NLG919, NewLink's IDO pathway inhibitor. The parties also entered into a research collaboration for the discovery of next generation IDO/TDO compounds.
Under the terms of the accord, NewLink will receive an upfront payment of $150 million and will be eligible for in excess of $1 billion in milestone payments based on achievement of certain predetermined milestones as well as escalating double-digit royalties on potential commercial sales of multiple products by Genentech.
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