Compugen eligible to receive $10M payment upon dosing of AstraZeneca trial

Compugen (CGEN) will be eligible to receive a milestone payment of $10M from AstraZeneca (AZN), when the first patient is dosed in AstraZeneca’s ARTEMIDE-Bil01 trial with rilvegostomig. Rilvegostomig is a PD-1/TIGIT bispecific antibody where the TIGIT component is derived from Compugen’s clinical-stage anti-TIGIT antibody, COM902. In 2018, Compugen and AstraZeneca entered into an agreement by which Compugen provided an exclusive license to AstraZeneca to use Compugen’s monospecific antibodies that bind to TIGIT, for the development of bispecific and multispecific antibody products. AstraZeneca is responsible for all research, development, and commercial activities. AstraZeneca has the right to create multiple products under this license. In addition to the $10M milestone payment which Compugen will be eligible to receive on dosing of the first patient in the Phase 3 ARTEMIDE-Bil01 trial, Compugen has received a $10M upfront payment, and an additional $15.5M in milestone payments to date, all out of up to an aggregate milestone amount of $200M that the company is eligible to receive in milestones for the first product, as well as tiered royalties on future product sales.