Astellas Signed a Research Collaboration and Exclusive Option Agreement with Cullgen to Advance Innovative Targeted Protein Degraders
Shots:
- Cullgen will receive $35M up front & ~$85M upon exercise of the license option for the lead program representing a total value of ~$1.9B if Astellas exercises all its license options and all milestones achieved along with royalty on any commercial sales. Both companies will conduct joint research to identify clinical development candidates
- Astellas to get an option of licensing the rights for clinical development & commercialization of the protein degrader compounds identified during the research activities
- Cullgen to get the option to participate equally in the costs, profits, and losses & to co-promote partnered products in the US during the initial stages. The agreement combines Cullgen's uSMITE targeted protein degradation platform with Astellas' capabilities to develop multiple targeted protein degraders
Ref: Businesswire | Image: Astellas
Related News:- Astellas Entered into a Definitive Agreement to Acquire Iveric Bio for ~$5.9B
PharmaShots! Your go-to media platform for customized news ranging for multiple indications. For more information connect with us at connect@pharmashots.com
Click here to read the full press release
Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.
