Issue Date: December 14, 2009
ZymoGenetics Licenses Antibody, Cuts Staff
ZymoGenetics has signed a licensing agreement under which Novo Nordisk will gain worldwide rights to IL-21 mAb, a fully human monoclonal antibody being developed as a treatment for autoimmune and inflammatory diseases. Novo, which has had intellectual property rights to IL-21 mAb outside North America since 2001, will pay ZymoGenetics $24 million up front. Additional milestone payments could reach $157.5 million. Separately, ZymoGenetics will eliminate 52 jobs, a 15% workforce reduction, in an effort to cut costs by focusing on projects furthest along in development.
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