Brief: Gilead, Compugen Announce Exclusive License Agreement for Novel Pre-Clinical Immunotherapy Program

Compugen

19/12/2023 13:15

Dec 19 (Reuters) - Compugen Ltd  CGEN.TA :
    * GILEAD AND COMPUGEN ANNOUNCE EXCLUSIVE LICENSE AGREEMENT
FOR
NOVEL PRE-CLINICAL IMMUNOTHERAPY PROGRAM
    * COMPUGEN LTD: GILEAD TO MAKE $60 MILLION UPFRONT PAYMENT
AND $30
MILLION IN A NEAR TERM MILESTONE PAYMENT WITH A TOTAL DEAL VALUE
OF UP TO $848 MILLION
    * COMPUGEN: GILEAD TO HAVE EXCLUSIVE RIGHTS TO LATER STAGE
DEVELOPMENT, COMMERCIALIZATION OF ANTI-IL18 BINDING PROTEIN
ANTIBODIES
    * COMPUGEN LTD: UNDER DEAL, COMPUGEN WILL BE RESPONSIBLE FOR
ONGOING PRE-CLINICAL DEVELOPMENT AND FUTURE PHASE 1 STUDY OF
COM503
    * COMPUGEN LTD: TRANSACTION EXPECTED TO REDUCE GILEAD'S GAAP
AND
NON-GAAP 2023 EPS BY APPROXIMATELY $0.03 - $0.05
    * COMPUGEN LTD: THEREAFTER, GILEAD WILL HAVE SOLE RIGHT TO
DEVELOP
AND COMMERCIALIZE COM503
    * COMPUGEN LTD: CO WILL ALSO BE ELIGIBLE TO RECEIVE
SINGLE-DIGIT
TO LOW DOUBLE-DIGIT TIERED ROYALTIES ON WORLDWIDE NET SALES

Source text for Eikon:  ID:nBw89QwTda 
Further company coverage:  CGEN.TA 

 ((Reuters.Briefs@thomsonreuters.com;))