Amgen to pay up to $410 million per target in deal with Nuevolution

Swedish biotech Nuevolution and Amgen (Nasdaq: AMGN) have entered into a multiple target research collaboration to develop and commercialize new treatments in oncology and neuroscience.

Under the terms of the agreement, the US biotech major has an exclusive option to obtain all rights to successfully developed programs, while Nuevolution will receive a license fee payment upon option exercise and milestone sums upon achievement of specified research, development and commercial milestones, totalling up to $410 million per target.

“DNA-encoded screening platforms such as Nuevolution’s allow for rapid screening of billions of compounds to help bring important therapies to the clinic faster and with increased precision.”