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Dec 20, 2007

Human Genome Sciences Will Pay up to $310M for Aegera’s Anticancer Agent

  • Human Genome Sciences (HGS) is paying $15 million for Aegera Therapeutics’ preclinical candidate to be developed as an anticancer drug. The total value of the deal could reach $310 million.

    Aegera retains Japanese rights to AEG40826, an IAP antagonist, while HGS has the exclusive license for the rest of the world. HGS may also acquire related backup compounds to be chosen during a three-year research collaboration. Aegera also retains the nononcology rights to its IAP inhibitors that are not selected for development under this agreement.

    Besides the initial payment, HGS also made a C$5 million equity investment. Aegera will be entitled to receive up to $295 million in future development and commercial milestone payments. The first fee of $5 million is expected if the FDA clears the IND for AEG40826.

    Aegera will also receive double-digit royalties on net sales in the HGS territory. In North America, Aegera will have the option to copromote. If exercised, it will share certain expenses and receive 30% of profits in lieu of its royalties.

    AEG40826 is a member of a new class of small molecules that directly or in combination with other anticancer treatments cause the death of tumor cells through antagonism of IAP function.

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