Genentech has agreed to pay Altus $30 million--half as an up front fee and half as an investment--in a new development deal covering a therapy for human growth hormone deficiency. The pact covers ALTU-238, an experimental human growth hormone being developed as a once-weekly therapy. Altus also stands to gain up to $110 million in milestone payments for a successful development program. Genentech will cover development and commercialization costs while the two companies will share promotion and marketing rights. ALTU-238 recently completed a Phase II trial.
- see the release on the deal
- read the report from the Boston Business Journal