Synageva expands collaboration with Mitsubishi Tanabe Pharma

3 April 2012

USA-based clinical-stage biopharma firm Synageva BioPharma (Nasdaq: GEVA) says it has expanded its previous collaboration with Japanese drugmaker Mitsubishi Tanabe Pharma (TYO: 4508) to develop a second protein therapeutic for an undisclosed orphan disease using its product development capabilities and proprietary protein expression platform.

Under the terms of the agreement, Mitsubishi Tanabe will make an upfront payment of $9 million. Synageva will receive reimbursement for development costs, potential future development and commercial milestone payments, as well as royalties from potential product revenue.

No change in Synageva’s financial guidance

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