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.

- check out the press release
- read the story from Wall Street 24/7

Related Articles:
Cell Genesys gains $75M in R&D funds. Report
Cell Genesys cuts jobs, focuses on lead drugs. Report
Cell Genesys reports vaccine data. Report
Takeda expands R&D budget, may look for buyout. Report

Suggested Articles

IBM and Pfizer developed an artificial intelligence model that could eventually predict if a person will develop Alzheimer’s using a language test.

After teaming up with other Big Pharmas to bolster antibiotics research, Pfizer is adding a new antibiotic prospect to its pipeline.

The oral direct-acting antiviral is set to enter a phase 3 trial in non-hospitalized patients early next year.