Abgenix and Genentech Extend Antibody Technology Licensing Agreement
Abgenix, Inc. announced that Genentech, Inc. has exercised its option to extend its technology licensing agreement with Abgenix for an additional three years. Under the extended agreement, Genentech will have access to Abgenix's proprietary antibody generation technology. As a condition of exercising the option, Genentech has purchased Abgenix common stock representing less than one percent of Abgenix's outstanding common stock through a private placement subject to future registration. Abgenix may also receive future milestone payments and fees as antibody programs advance through the collaboration, as well as future royalties on any products that may be successfully commercialized by Genentech.
In 1999 Genentech signed an agreement with Abgenix to license the Abgenix technology. Under the agreement Abgenix provides Genentech with the XenoMouse technology for use in Genentech's product development activities.
Other news from the department business & finance
Most read news
More news from our other portals
Last viewed contents
Merck Boosts Commercial Viral Vector and Gene Therapy Manufacturing Capacity - New, € 100 million facility will more than double existing production capacity
Fine-tuning stem cell metabolism prevents hair loss - Research team has shown in mice that Rictor, a protein that helps to regulate the growth, energy, and oxygen consumption of cells, plays a key role in the cellular metabolism and longevity of hair follicle stem cells
