Clinigen to acquire US rights to Proleukin
Shares of UK-based Clinigen Group (AIM: CLIN) were up almost 20% to 881.5 pence late Wednesday, after the company announced the signing of an agreement with Novartis (NOVN: VX) to acquire the US rights to Proleukin (aldesleukin, human recombinant interleukin-2).
Clinigen already owns the rights to Proleukin outside the USA, which it acquired for undisclosed terms in July 2018. It has now agreed to pay up to $210 million in cash and deferred payments along with future sales related milestones. This comprises an initial $120 million payment, and a $60 million deferred consideration over the 12 months following completion. A further $30 million consideration will be based on sales milestones.
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