Agensys of Santa Monica, CA, and Merck have tied the knot on an alliance to jointly develop and commercialize AGS-PSCA, Agensys' fully human monoclonal antibody to Prostate Stem Cell Antigen. Agensys gains $17.5 million up front with $11.5 million in payments spread out over the coming year. Up to $170 million in milestone payments is at stake for multiple use approval.
"AGS-PSCA is the first antibody product from our pipeline and developing this novel and potentially important cancer therapy with Merck fulfills one of our major strategic goals," said Dr. Donald B. Rice, chairman, president and CEO of Agensys. "In preclinical studies of human prostate, pancreatic and bladder cancers, AGS-PSCA has consistently demonstrated significant inhibition of tumor growth and metastases leading to increases in survival."
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