BioCentury
ARTICLE | Company News

Serono SA, ZymoGenetics deal

September 13, 2004 7:00 AM UTC

ZGEN granted SEO access to a portfolio of genes and proteins for evaluation, screening and licensing. SEO also received rights to license up to 12 products from ZGEN's internal research projects. ZGEN will have an option to co-develop and co-commercialize resulting products in the U.S. for an equal share of profits. ZGEN also granted SEO exclusive worldwide rights to develop and commercialize products based on fibroblast growth factor 18 (FGF-18) and interleukin-22 (IL-22) receptor for cartilage repair. The partners agreed to co-develop interleukin-31 (IL-31) for inflammatory diseases. ZGEN will receive $11.3 million in upfront license fees for FGF-18, IL-22 receptor and IL-31 and $20 million up front for SEO's option rights to other proteins. SEO also purchased $50 million of ZGEN's common stock. ZGEN is eligible for additional license fees, milestones and royalties on every product that SEO licenses. ...