ARTICLE | Company News

Medigene rises on spin-off sale

December 22, 2015 1:49 AM UTC

Medigene AG (Xetra:MDG1) added EUR 1.07 (15%) to EUR 8.15 on Monday on news that Amgen Inc. (NASDAQ:AMGN) bought Medigene spinoff Catherex Inc. (Philadelphia, Pa.) for $10.5 million up front. Catherex shareholders are also eligible for milestones and royalties related to Amgen's Imlygic talimogene laherparepvec, an oncolytic virus which is approved to treat advanced metastatic melanoma.

Medigene said it will receive about 40% of the Amgen payments. Catherex's lone asset was an oncolytic virus patent portfolio. ...