Pfenex Inc., a clinical-stage biotechnology company engaged in the
development of biosimilar therapeutics including high value and
difficult to manufacture proteins, announced that the Federal Trade
Commission has granted early termination of the waiting period under the
Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) in
connection with the exclusive collaboration agreement executed by the
company on February 9, 2014 with Hospira, Inc. to develop and
commercialize, PF582, Pfenex's biosimilar product candidate to
Genentech's Lucentis (ranibizumab injection).
With the early termination of the applicable waiting period under the HSR Act, the collaboration agreement with Hospira is effective as of March 19, 2015 and the $51 million initial payment under the collaboration agreement is due to the company on or before the fifth business day following HSR clearance.
With the early termination of the applicable waiting period under the HSR Act, the collaboration agreement with Hospira is effective as of March 19, 2015 and the $51 million initial payment under the collaboration agreement is due to the company on or before the fifth business day following HSR clearance.
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