Clinigen adds U.S. rights to Proleukin

Clinigen Group plc (LSE:CLIN) jumped 134.5p (18%) to 872p on Wednesday after the U.K. specialty pharma said it will acquire U.S. rights to Proleukin aldesleukin from Novartis AG (NYSE:NVS; SIX:NOVN), giving Clinigen worldwide rights to the IL-2 therapy.

Novartis will receive an initial upfront payment of $120 million with an additional $60 million payment to be deferred over the next year following completion of the deal. The Swiss pharma is also eligible for up to $30 million in sales milestones. Last July Clinigen acquired the ex-U.S. rights to Proleukin from Novartis, although financial terms were not disclosed...