Compugen deal
Compugen will receive $8 million in R&D funding from investment firm Baize Investments Ltd. to support Compugen's Pipeline Program, which consists of more than 30 mAbs and proteins for cancer and autoimmune indications. In exchange for the investment, Baize receives a stake in mAbs against 12 undisclosed cancer targets discovered by Compugen. Qualifying candidates must inhibit disease in an animal model or must be out-licensed to a third party within three years. Baize is eligible to receive no less than 10% of future payments Compugen receives from third parties. The percentage will be calculated on the date of out-licensing on a sliding scale which takes into account the amount invested by Baize and Compugen. Baize also has the right during 1Q14 to waive its rights to the payments in exchange for 1.5 million Compugen shares. ...