Cell Genesys deal

CEGE (Foster City, Calif.) and JT Immunotech USA created the Xenotech Division of CEGE to conduct preclinical research on behalf of Xenotech L.P., the companies' equally owned joint venture to commercialize human monoclonal antibody products.

Xenotech L.P. will fund the Xenotech division with an estimated $40 million to conduct preclinical research through 1997. CEGE will receive about $20 million in net revenues for operation of the division, in the form of quarterly payments, which will be in excess of its own payments to the joint venture. ...