Compugen (CGEN) has released an update.
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Compugen Ltd. has announced FDA clearance for their Phase 1 trial of COM503, a potential new cancer treatment for solid tumors, slated to begin in Q4 2024. This clearance has resulted in a $30 million milestone payment from Gilead Sciences, as part of a larger licensing agreement that could ultimately be worth up to $848 million. The company is optimistic about the antibody’s unique approach to harnessing cytokine biology and is well-funded to continue development activities into 2027.
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