Sugen, Asta Medica Aktiengesellschaft deal

SUGN and Asta agreed to develop, manufacture and market in Europe SUGN's oncology products based on two cell signal transduction targets, HER2 and Raf.

Asta will pay a $4 million set-up fee to SUGN, as well as additional consideration in the form of contract services for non-collaboration work. Asta also will purchase $9 million of SUGN common stock at $20.88 per share, for 431,000 shares. SUGN has 10.2 million shares outstanding before the investment. SUGN could receive up to $19 million in milestone payments. ...