Volume 87 Issue 50 | p. 21 | Concentrates
Issue Date: December 14, 2009

ZymoGenetics Licenses Antibody, Cuts Staff

Department: Business
Keywords: ZymoGenetics, licensing agreement

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.

 
Chemical & Engineering News
ISSN 0009-2347
Copyright © American Chemical Society

Leave A Comment

*Required to comment