Regeneron, Astellas extend VelocImmune deal

Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) granted Astellas Pharma Inc. (Tokyo:4503) an extension of a non-exclusive license to use the VelocImmune antibody technology through 2023. The extension amends a 2007 deal that gave Astellas rights to the technology through 2012, with annual license payments of $20 million. Regeneron will receive $165 million up front for the license extension in lieu of the last two annual payments under the original deal. Regeneron will also receive an additional $130 million in June 2018, unless the deal is terminated prior to that date, and is eligible for mid-single-digit royalties on any marketed products from the license. ...