Compugen Shares Rocket Higher as Co. Announces Collaboration, License Deal with Bayer for Antibody-Based Cancer Immunotherapies


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Compugen Ltd. (NASDAQ: CGEN) announced today the signing of a collaborationand license agreement for the research, development, and commercialization ofantibody-based therapeutics for cancer immunotherapy against two novelCompugen discovered immune checkpoint regulators. Under the terms of theagreement, Bayer HealthCare (Bayer) and Compugen will jointly pursue apreclinical research program. Subsequently, Bayer will have full control overfurther development and have worldwide commercialization rights for potentialcancer therapeutics.Under the agreement Compugen will receive an upfront payment of USD 10million, and is eligible to receive over USD 500 million in potentialmilestone payments for both programs, not including milestone payments of upto USD 30 million associated with preclinical activities. Additionally,Compugen is also eligible to receive mid to high single digit royalties onglobal net sales of any resulting products under the collaboration.

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