Shots:

• Generate Biomedicines to receive $50M up front for the initial five programs making a total enterprise value of $1.9B & is eligible to receive $370M in milestones for each program along with royalties
• The collaboration combines Amgen’s expertise in engineering protein-based therapies with Generate’s machine learning-enabled technology platform, in silico design, and wet lab capabilities to generate novel protein sequences with optimal therapeutic properties for five clinical targets across several therapeutic areas and multiple modalities
• Additionally, Amgen get an option to nominate up to five additional programs at additional cost

Ref: Amgen | Image: Wall Street Journal