In March 2018, Compugen entered into an exclusive license agreement with MedImmune, the global biologics research and development arm of AstraZeneca, to enable the development of bi-specific and multi-specific immuno-oncology antibody products.
Compugen provided an exclusive license to MedImmune for the development and commercialization of bi-specific and multi-specific antibody products derived from a Compugen pipeline program. MedImmune has the right to create multiple products under this license and has sole responsibility for research, development and commercial activities under the agreement.
Compugen received $10 million upfront and is eligible to receive up to $200 million in development, regulatory and commercial milestones, as well as tiered royalties on future product sales for the first product. Additional milestones and royalties are due Compugen for each product developed under this deal.