Shots:

• Plexium to receive ~$500M in success-based target access, pre-clinical/clinical, regulatory & commercial milestones along with royalty, if all options are exercised. The companies will initially focus on 2 programs for cancer
• Amgen gets an option to add more programs & holds a commercial license to each program that advances to a predefined preclinical stage of development and will lead the global development and commercialization of the product
• The collaboration will combine Plexium's targeted protein degradation platform with Amgen's early discovery expertise to develop new therapeutic agents for the treatment of cancer and other serious diseases

Ref: Amgen | Image: Adweek