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Human Genome Sciences Inc. Message Board

  • Bull_v_Bear Bull_v_Bear Jan 9, 2006 8:48 AM Flag

    Financial Terms...........

    How much in monetary terms?????????

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    • HGSI will receive an upfront payment, annual fees and milestone payments on any products Amgen develops based on a gene


      Human Genome Grants Gene Rights to Amgen
      Monday January 9, 8:42 am ET
      Human Genome Sciences Licenses Therapy, Test Rights for Discovered Gene to Amgen


      ROCKVILLE, Md. (AP) -- Biotech company Human Genome Sciences Inc. said Monday that it licensed rights for the development of therapeutics and medical tests for a gene it discovered to Amgen Inc.
      Human Genome shares rose 72 cents, or 7.5 percent, in premarket activity after closing at $9.65 on Friday.

      Specific financial details were not disclosed, but Human Genome Sciences said it will receive an upfront payment, annual fees and milestone payments on any products Amgen develops based on a gene that may have potential applications for autoimmune diseases, immune deficiencies or suppression, and cancer.

      Under the agreement, the worldwide rights for a therapeutic product are exclusively licensed to Amgen, while the rights for a medical test are non-exclusive.

      Human Genome will also receive royalties if any products based on the gene are sold commercially.