Predix signs off on $307.5M licensing deal

Predix Pharmaceuticals has inked a deal to collaborate with Amgen on the development of orally available S1P1 modulators for autoimmune disease. Predix, which recently agreed to a merger with EPIX, gains $20 million up front and a haul of up to $287.5 million in milestone payments. Researchers will focus on existing compounds and new S1P1 modulators. Predix also retains the right to promote a product to specialty physicians for a selected indication.

"This collaboration provides Predix with the option to transform into a fully integrated pharmaceutical company by exercising our co-promote option with Amgen," said Chen Schor, chief business officer of Predix. "This deal comes as we are in the process of finalizing our merger with EPIX and will further enable the combined company to pursue this research program along with our other development programs."

- read the AFX report on the deal