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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