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Replies to post #192519 on Biotech Values
DewDiligence
06/16/15 12:04 PM
#192592 RE: DewDiligence #192519
06/22/15 2:10 PM
#192821 RE: DewDiligence #192519
07/02/15 9:53 AM
#193110 RE: DewDiligence #192519
…Biogen will make an upfront payment in the amount of $124 million to AGTC, which includes a $30 million equity investment in AGTC at a price equal to $20.63 per share and certain prepaid research and development expenditures. Biogen will be granted a license to the XLRS and XLRP programs and the option to license discovery programs for three additional indications at the time of clinical candidate selection. ...The agreement also includes options for early stage discovery programs in two ophthalmic diseases and one non-ophthalmic condition, as well as...a license agreement for manufacturing rights. …AGTC is eligible to receive upfront and milestone payments exceeding $1 billion. This includes up to $472.5 million collectively for the two lead programs [XLRS & XLRP], which also will carry royalties in the high single digit to mid-teen percentages of annual net sales. In addition, Biogen will make payments up to $592.5 million across the discovery programs [i.e. those other than XLRS & XLRP], along with royalties in the mid single digits to low teen percentages of annual net sales. Biogen obtains worldwide commercialization rights for the XLRS and XLRP programs. AGTC has an option to share development costs and profits after the initial clinical trial data are available, and an option to co-promote the second of these products to be approved in the United States. AGTC will lead the clinical development programs of XLRS through product approval and of XLRP through the completion of first-in-human trials.