Q32 Bio Signs an Agreement with Amgen to Retrieve the Rights to Bempikibart (ADX-914) for Autoimmune Diseases
Shots:
- Q32 Bio has entered into a re-acquisition agreement with Amgen to regain the full development and commercialization rights to Bempikibart which was previously known as ADX-914
- Earlier in 2022, Q32 Bio entered into a collaboration agreement with Horizon to develop Bempikibart as a treatment for autoimmune diseases under the terms of which Q32 Bio received $55M consideration and staged development funding for 2 P-II trials & Horizon has the option to acquire the program at a prespecified price
- Later, in early Q1’23, Amgen completed the acquisition of Horizon following which Q32 Bio signed the re-acqusition agreement as per which Q32 Bio retains the initial consideration and all development funding received & will further pay Amgen regulatory & commercial based milestone payments
Ref: PR Newswire | Image: Amgen
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Shivani was a content writer at PharmaShots. She has a keen interest in recent innovations in the life sciences industry. She was covering news related to Product approvals, clinical trial results, and updates. We can be contacted at connect@pharmashots.com.
