Licensing Deal For Amgen And Progenitor
Progenitor, a subsidiary of US firm Interneuron Pharmaceuticals, hasgranted a license to Amgen of the USA giving certain exclusive rights for the development and commercialization of products using Progenitor's leptin receptor technology.
Amgen pays $500,000 and gains an option to purchase $5.5 million of Progenitor common stock in the event of a Progenitor public offering. Progenitor retains exclusive rights to the leptin receptor technology for ex vivo ligand screening, small-molecule screening and cell sorting, for all human uses of leptin receptor DNA antisense molecules, and in vivo human uses of leptin receptor-specific antibodies, plus certain other co-exclusive rights to the licensed technology.
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