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March 12, 2007

Protherics Receives over $19M Milestone from AstraZeneca

  • Protherics reports that a £10-million milestone payment from AstraZeneca was triggered as a result of the successful scale-up of the CytoFab™ manufacturing process to a 600-L batch size.

    Upon receipt of this manufacturing-related milestone of over $19M, Protherics will have received a total of GBP26.3 million, or over $50.7 million, in milestone payments from AstraZeneca since the deal was signed in December 2005.

    Under the licensing agreement, Protherics may receive up to a further £161 million, or about $310 million, in milestone payments, in addition to a 20% royalty on global net product sales of CytoFab™.

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