Human Genome Sciences, Inc. has announced a license agreement with Amgen under which Amgen has acquired exclusive worldwide rights to develop and commercialize therapeutic biological products for human use based on a human gene discovered by Human Genome Sciences that may have potential applications in autoimmune diseases, immune deficiencies or suppression, and cancer.
In addition, Amgen has acquired non-exclusive worldwide rights for the development and commercialization of diagnostic products for human use based on the same gene.
According to the terms of the agreement, Human Genome Sciences will receive from Amgen an upfront payment and certain annual fees, as well as development milestone payments and royalties on annual net sales for therapeutic and diagnostic products developed and commercialized using such rights.
H. Thomas Watkins, President and Chief Executive Officer, Human Genome Sciences, said, "We are pleased to enter into this agreement with Amgen."
"This agreement is one more step in our monetization of Human Genome Sciences assets and in providing access to our technology to those companies who share our goal of developing gene-based therapeutic and diagnostic products for use in the treatment of serious diseases."