Press release
Compugen Announces Milestone Payment from AstraZeneca Triggered by First Patient Dosed with TIGIT Bispecific Derived from COM902
- The first patient has been dosed in a Phase 1/2 study of AZD2936, a TIGIT/PD-1 bi-specific derived from COM902, entitling Compugen to receive a $6 million
About this update from Compugen Ltd.
[{"type":"text","content":"- The first patient has been dosed in a Phase 1/2 study of AZD2936, a TIGIT/PD-1 bi-specific derived from COM902, entitling Compugen to receive a $6 million payment from AstraZeneca as part of a license agreement\n\n\nHOLON, Israel, Oct. 4, 2021 /PRNewswire/ -- Compugen Ltd. (NASDAQ: CGEN), a clinical-stage cancer immunotherapy company and a leader in predictive target discovery, today announced that Compugen is entitled to receive a $6 million milestone payment from AstraZeneca (LSE: AZN) (STO: AZN) (Nasdaq: AZN) triggered by the dosing of the first patient in a Phase 1/2 study evaluating AZD2936, a TIGIT/PD-1 bispecific antibody, in patients with advanced or metastatic non-small cell lung cancer. AZD2936 is derived from COM902, Compugen's high-affinity clinical-stage anti-TIGIT antibody. \n\"We are proud that AstraZeneca's TIGIT bispecific program, derived from COM902, has advanced to the clinic and become our fourth clinical stage program originating from our innovative pipeline\" said Anat Cohen-Dayag, Ph.D., President and Chief Executive Officer of Compugen. \"We hope COM902's differentiated properties will contribute to the clinical success of AZD2936 and we look forward to the advancement of this important clinical program.\" \nAbout the Compugen-AstraZeneca License Agreement\nIn 2018, Compugen and AstraZeneca entered into an agreement by which Compugen provided an exclusive license to AstraZeneca to use Compugen's monospecific antibodies that bind to TIGIT, including COM902, for the development of bi-specific and multi-specific antibody products, excluding such bi-specific and multi-specific antibodies that also bind to PVRIG, PVRL2 and/or TIGIT. AstraZeneca is responsible for all research, development, and commercial activities. AstraZeneca has the right to create multiple products under this license. To date, Compugen has received a $10 million upfront payment, an additional $2 million milestone payment and is entitled to an additional $6 million payment triggered by this first patient being dosed, out of up to an aggregate milestone amount of $200 million that the Company is eligible to receive in development, regulatory and commercial milestones for the first product, as well as tiered royalties on future product sales. If additional products are developed based on Compugen's monospecific antibodies that bind to TIGI...