ARTICLE | Company News
Clinigen adds U.S. rights to Proleukin
February 15, 2019 6:21 PM UTC
Clinigen Group plc (LSE:CLIN) jumped 134.5p (18%) to 872p on Feb. 13 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...
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