Japan's Takeda Pharmaceutical [1]Â will pay Cell Genesys $50 million upfront and up to $270 million more for hitting clinical and regulatory milestones in a marketing pact for its lead, late-stage prostate cancer therapy. Takeda gains global marketing rights while Cell Genesys retains co-promotion rights in the U.S. for GVAX immunotherapy [2]. Cell Genesys will also maintain responsibility for the worldwide manufacture and supply of the product.
Stephen Sherwin, Cell Genesys' CEO, told analysts in a conference call that the deal was one of the most important in the company's history. Takeda has agreed to pay a tiered, double-digit royalty in the U.S. for the potential blockbuster and a flat double-digit royalty in other countries. Cell Genesys' GVAX technology is intended to stimulate the human immune system to recognize the cancer and attack it.
- check out the press release [3]
- read the story [4] from Wall Street 24/7
Related Articles:
Cell Genesys gains $75M in R&D funds. Report [5]
Cell Genesys cuts jobs, focuses on lead drugs. Report [6]
Cell Genesys reports vaccine data. Report [7]
Takeda expands R&D budget, may look for buyout. Report [1]
Links:
[1] http://www.fiercebiotech.com/story/takeda-expands-r-amp-d-budget-may-look-for-buyout/2006-09-22
[2] http://www.fiercebiotech.com/story/spotlight-more-data-on-cell-genesys-gvax/2007-04-03
[3] http://www.fiercebiotech.com/press-releases/cell-genesys-and-takeda-announce-global-alliance-development-and-commercialization-gv
[4] http://www.247wallst.com/2008/03/cell-genesys-sc.html
[5] http://www.fiercebiotech.com/story/cell-genesys-gains-75m-in-rd-funds/2007-02-06
[6] http://www.fiercebiotech.com/story/cell-genesys-cuts-jobs-focuses-on-lead-drugs/2005-06-07
[7] http://www.fiercebiotech.com/story/spotlight-cell-genesys-reports-vaccine-data/2005-12-12