Replies to post #203053 on Biotech Values

[DewDiligence]

AMGN/ADXS PR:

http://finance.yahoo.com/news/amgen-advaxis-enter-global-cancer-120000771.html

Under the terms of the agreement, Amgen receives exclusive worldwide rights to develop and commercialize ADXS-NEO. Amgen will make an upfront payment to Advaxis of $40 million and purchase $25 million of Advaxis common stock.

Amgen will be fully responsible for funding clinical and commercial activities. Advaxis will lead the clinical development of ADXS-NEO through proof-of-concept, retain manufacturing responsibilities, and receive development, regulatory and sales milestone payments of up to $475 million and potential high single digit to mid-double digit royalty payments based on worldwide sales.

ADXS is +24%.

CC at 9:30am ET.