Amgen Entered into a Research Collaboration Agreement with Generate Biomedicines to Discover Protein Therapeutics
Shots:
- Generate Biomedicines to receive $50M up front for the initial five programs making a total enterprise value of $1.9B & is eligible to receive $370M in milestones for each program along with royalties
- The collaboration combines Amgen’s expertise in engineering protein-based therapies with Generate’s machine learning-enabled technology platform, in silico design, and wet lab capabilities to generate novel protein sequences with optimal therapeutic properties for five clinical targets across several therapeutic areas and multiple modalities
- Additionally, Amgen get an option to nominate up to five additional programs at additional cost
Ref: Amgen | Image: Wall Street Journal
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