Compugen Ltd. Could Turn A Profit If Co. Can Secure More Deals Like Bayer AG's Oncology Deal
Israel's Compugen (CGEN.TA), which is trying to develop commercial drugs using computer models, says it could turn a profit if it can secure two or three more deals like its recent partnership with Bayer (BAYGn.DE) in immuno-oncology. The company, which does not yet have a drug on the market, agreed in August to hand over the rights to two proteins known as immune checkpoint inhibitors to the German drug firm for antibody-based cancer immunotherapies. The deal calls for Compugen to receive $10 million up front, $30 million in milestone payments for joint pre-clinical work and more than $500 million for milestones beyond the pre-clinical stage.
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