ZymoGenetics Inc announced the signing of a license agreement with Amgen for exclusive worldwide rights to ZymoGenetics' patents covering a metabolic disease target discovered using ZymoGenetics' genomics-based discovery platform. As part of the licensing agreement, Amgen has agreed to make a $10 million investment in ZymoGenetics common stock and pay an upfront license fee, along with potential further downstream consideration. Amgen will be responsible for all development activities.
"We're pleased that Amgen has recognized the value of and licensed this patent estate," commented Bruce LA Carter, Ph D, president and chief executive officer of ZymoGenetics. "This furthers our goal of deriving value from our sizable patent portfolio. Because our portfolio covers diverse therapeutic areas, we're pursuing an out-licensing strategy for selected proteins outside our areas of interest. This allows us to focus internally on developing our pipeline of potential treatments for bleeding, autoimmune diseases and cancer."
ZymoGenetics is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutic proteins for the prevention or treatment of human diseases. The company is developing a diverse pipeline of potential proprietary product candidates that are moving into and through clinical development. These span a wide array of clinical opportunities that include bleeding, autoimmune diseases and cancer.