Biogen Pays $31.5M to Genentech to Co-Develop Anti-CD20 Drug
Luke Timmerman11/3/08
Biogen Idec has agreed to pay $31.5 million upfront to Genentech co-develop a next-generation antibody drug against the CD20 protein on cells, the same target on cells of Rituxan. Cambridge, MA-based Biogen (NASDAQ: BIIB) said Thursday it agreed to participate in the development of GA101, a humanized antibody that’s designed to increase the direct cell-killing capability of the drug, and its ability to stimulate the immune system to add to the fight against blood cancer cells. The drug is currently in Phase I/II clinical trials, Biogen said.
Luke Timmerman is the National Biotech Editor of Xconomy, and the Editor of Xconomy Seattle. E-mail him at ltimmerman@xconomy.com or follow him on Twitter at twitter.com/ldtimmerman.
