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Amgen, Inc.
Genome Therapeutics receives payment for research milestone
September 10th, 2003
Genome Therapeutics Corp. (GENE) has received a payment from Amgen, Inc., for the completion of a milestone under their agreement aimed at utilizing genetic information to discover and commercialize new therapeutics for bone diseases, including osteoporosis. Concurrent with the cash milestone payment, Amgen will make an equity investment in Genome Therapeutics' common stock at a premium to market price. Genome Therapeutics announced an agreement with Amgen in January 2003 for the identification and development of novel therapeutic agents for bone diseases, including osteoporosis. Both companies will participate in collaborative research efforts to...
Source: Biotech Week (2003-09-10)
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