Thursday, July 29, 2004

Agensys Inks Genentech Deal

Santa Monica-based Agensys inked a deal last week to collaborate with biotech firm Genentech to collaborate on research, development, and commercialization of Agensys's proprietary cancer targets. The agreement calls for Genentech to receive exclusive worldwide license to Agensys' patent rights for the therapeutic products. According to the companies, the deal may be worth up to $90M depending on milestone targets. The deal also included an equity investment in Agensys by Genentech.