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Article: Human Genome Sciences receives milestone payments from GlaxoSmithKline for GSK716155 progress.
- Article from:
- BIOTECH Patent News
- Article date:
- July 1, 2005
CopyrightCOPYRIGHT 2005 Biotech Patent News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Human Genome Sciences, Inc. (Rockville, MD) announced that it has received $7 million in payments from its collaborator, GlaxoSmithKline (GSK), related to the achievement of manufacturing and preclinical development milestones for GSK716155 (formerly known as Albugon), a drug currently in late-stage preclinical development for potential use in the treatment of diabetes. The company received and recognized $2 million as revenue in the second quarter of 2005, and will recognize the remaining $5 million as revenue in the third quarter of 2005.
The payments were made pursuant to an agreement with GSK reached in October 2004, under which GSK acquired exclusive ...
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Article: Human Genome Sciences and Medarex announce ...
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