Asset Grazing

Monetizing Somatix

Cell Genesys Inc. on Friday announced a worldwide collaboration to develop and commercialize its GVAX engineered cellular vaccine products to treat cancer with long-time partner Japan Tobacco Inc. The deal, worth up to $122.7 million to CEGE, not including a $30 million line of credit for Phase III expenses, monetizes CEGE's acquisition of the GVAX product line, which it acquired through its merger with Somatix Therapy Corp. in January 1997.