Cell Genesys scores $320M blockbuster deal

Japan's Takeda Pharmaceutical 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. 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.

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Takeda expands R&D budget, may look for buyout. Report

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