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Article: ABGENIX TO ACQUIRE XENOMOUSE FROM JAPAN TOBACCO FOR $47M.
- Article from:
- BIOWORLD Today
- Article date:
- December 22, 1999
- Author:
CopyrightCOPYRIGHT 1999 A Thomson Healthcare Company. 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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Abgenix Inc. intends to pay $47 million to acquire Japan Tobacco Inc.'s share in XenoMouse technology and another $10 million for the Tokyo-based company to relinquish its option and license rights.
The agreement will give Abgenix, of Fremont, Calif., 100 percent ownership of Xenotech Inc. and Xenotech LP, a limited partnership that created the XenoMouse. Abgenix and Japan Tobacco equally own the partnership.
With sole ownership, Abgenix can execute future deals without the limitations imposed by the partnership.
"There was an annual ceiling on the number of licenses that we could [issue] to use the technology, and now that ceiling is removed," ...