HGS licenses immuno-cancer gene to Amgen
Human Genome Sciences has granted a global license to a gene that may have applications in immune diseases and cancer to US biotechnology major Amgen, granting the latter an exclusive worldwide license to develop and commercialize therapeutic biologicals based on it, as well as non-exclusive worldwide rights to diagnostic products utilizing the same gene.
According to the terms of the agreement, Maryland-headquartered HGS will receive an upfront payment and certain annual fees, as well as development milestone payments and royalties on annual net sales for therapeutic and diagnostic products successfully developed and commercialized. Further financial details were not disclosed.
Shares in HGS rose 7.5% in premarket activity after closing at $9.65 on the day of the announcement, January 9.
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