Symphogen Enters into Strategic Collaboration with Genentech for Antibody Therapeutics in Infectious Disease
News Jun 12, 2008
In this collaboration, Symphogen will apply its proprietary Symplex™ antibody discovery technology platform to identify novel infectious disease drug candidates. Furthermore, Genentech will gain access to Symphogen’s Sympress™ technology to produce recombinant polyclonal antibodies.
Under the terms of the agreement, Genentech will make an undisclosed upfront payment to Symphogen, as well as an equity investment in Symphogen.
In addition, Symphogen is eligible to receive milestone payments upon the success of certain research and development milestones, as well as royalties on any products developed and commercialized by Genentech as a result of this collaboration.
The total value of the agreement has the potential to exceed $330 million, and Genentech will obtain an exclusive worldwide license to candidates developed through this agreement and will fund associated research and development costs.