Arena, TaiGen in CART deal

ARNA licensed to TaiGen Biotechnology (Taipei, Taiwan) the right to select validated screening assays that include CART-activated G protein-coupled receptors to develop targeted therapeutics in exchange for first right of negotiation, milestones, and royalties on sales or out-licensing of any compound developed. ARNA can receive back from TaiGen the assay, CART-activated receptor and any resulting compounds that do not reach clinical development or are not out-licensed. ARNA and TaiGen will share revenues and/or payments for such compounds if they are further developed and then out-licensed by ARNA. ...