More than 20-fold improvement in affinity triggered milestone payment.
EvoGenix successfully completed the first project in a collaboration with GlaxoSmithKline. EvoGenix thus received a milestone payment.
EvoGenix utilized its protein optimization technology, EvoGene™, to develop improved versions of a protein product from the GSK pharmaceutical pipeline. The protein variants generated had improvements in affinity that exceeded the 20-fold goal specified in the agreement.
GSK will be responsible for further development of the product, with EvoGenix eligible to receive additional milestone payments as the product progresses through the pipeline. EvoGenix is also set to earn royalties on product sales should it be approved and launched.