Am­gen bar­rels in­to a $540M im­munother­a­py deal with Ad­vax­is

Am­gen has joined the im­munother­a­py part­ner­ing fren­zy. The Big Biotech is sign­ing up with the lit­tle biotech Ad­vax­is, col­lab­o­rat­ing on its tech­nol­o­gy us­ing bio­engi­neered bac­te­ria to re­cruit a T cell at­tack on can­cer.

Am­gen $AMGN is pay­ing $65 mil­lion up­front to get the deal kick­start­ed, with $25 mil­lion re­served for an eq­ui­ty stake in the com­pa­ny. Am­gen is al­so adding $475 mil­lion in mile­stones for the deal as it picks up de­vel­op­ment re­spon­si­bil­i­ties af­ter Ad­vax­is $ADXS is done with its proof-of-con­cept work for the still pre­clin­i­cal pro­gram for ADXS-NEO.

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