The Wall Street Journal: Amgen and Kite Pharma in cancer immunotherapy pact






















Amgen Inc. and Kite Pharma Inc. reached a research collaboration and license agreement to develop cancer immunotherapy treatments that focus on Amgen’s array of cancer targets and Kite Pharma’s autologous cell therapy platform.

Under the accord, Amgen












AMGN, -2.40%










 is eligible to receive as much as $525 million in milestone payments per Kite












KITE, +4.67%










 program. Meanwhile, Kite Pharma will receive an upfront payment of $60 million and would be eligible for up to $525 million in regulatory and sales milestone payments per Amgen program.

Further terms of the agreement weren’t provided.

Immunotherapy drugs are designed to stimulate the body’s immune system to destroy cancer cells. The growing market for the medicines has a number of drug makers vying to win approval for new therapies.

An expanded version of this report appears at WSJ.com.


























Source Article from http://www.marketwatch.com/news/story.asp?guid=%7B228B39D0-94EB-11E4-98B2-193876EEB936%7D&siteid=rss&rss=1
The Wall Street Journal: Amgen and Kite Pharma in cancer immunotherapy pact
http://www.marketwatch.com/news/story.asp?guid=%7B228B39D0-94EB-11E4-98B2-193876EEB936%7D&siteid=rss&rss=1
http://news.search.yahoo.com/news/rss?p=pharma
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