Payment based on successful scale-up of manufacturing process.
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™.
