Amgen Acquires Catherex Spin-off from Medigene

 

Amgen acquired U.S.-based Catherex, a spinoff company from Medigene, which focuses on T-cell therapy platforms for cancer. As a main shareholder of Catherex, Medigene, Inc. is entitled to approximately 40% of payments to be made by Amgen.

Catherex shareholders will receive an upfront payment of $10.5 million from Amgen and will be entitled to milestone payments upon achievement of certain regulatory and sales-based milestones for Amgen’s drug Imlygic® (formerly T-Vec), which was approved for treatment of advanced metastatic melanoma in October in the U.S. and recently in the EU. In addition, royalty payments on the sale of Imlygic will be made until the end of 2020.

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