Amgen exercises its opt-in right in the second preclinical cancer program from the Nuevolution collaboration
Stockholm, 28 November 2018. Nuevolution AB (publ) announced today that Amgen has exercised its contractual opt-in right to a second preclinical cancer program, which is part of its multiple-target research collaboration with Nuevolution. Amgen exercised its opt-in right to a first cancer program in July 2018.
As a result of opting-in, Amgen will be responsible for all further research and development costs of the program as incurred by both parties. Nuevolution will retain ownership of the program, subject to Amgen’s discretionary right to exercise an exclusive option to license the program. For each program that Amgen may license, Nuevolution is eligible to receive a licensing fee of at least USD 10 Million. Nuevolution is also eligible to receive potential further success-based development and commercialization milestones plus royalties on future sales. These combined payments could amount to up to USD 410 million per program plus royalties. Amgen’s exclusive option to license programs survives until end of phase I.
The parties will now jointly commence the late-stage research phase with the mutual goal of potentially nominating a clinical development candidate.
“We are pleased to see the collaboration progressing so quickly and positively,” said Alex Haahr Gouliaev, CEO of Nuevolution. “We are looking forward to further joint research on what is now two programs and potentially progressing additional programs.”
For more information, please contact:
Alex Haahr Gouliaev, CEO
Phone: +45 3913 0902
Johnny Stilou, CFO
Phone: +45 8877 5973
Information about Nuevolution AB (publ)
Nuevolution AB (publ) is a leading small molecule drug discovery biotech company founded in 2001, and headquartered in Copenhagen, Denmark. Nuevolution partners its discovery platform and develops its programs alone and in collaboration with pharmaceutical and biotechnology companies to seek future benefit for patients in need of novel medical treatment options. Nuevolution’s internal programs are focused on therapeutically important diseases targets within severe inflammatory diseases and cancer.
This information is information that Nuevolution AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Market Act. The information was sent for publication, through the agency of the contact persons set out above, on Wednesday 28 November 2018 at 22:01 CET.
Nuevolution AB (publ) is listed at Nasdaq in Stockholm, Sweden (ticker: NUE). More information about Nuevolution can be found on: www.nuevolution.com