Amgen Inc. on Thursday said it signed an exclusive multi-year research collaboration and license agreement with privately-held Plexium Inc. to identify novel targeted protein degradation therapies.
The Thousand Oaks, Calif., biotechnology company said the work will pair its early discovery expertise with Plexium's targeted protein degradation platform to develop new therapeutic agents in cancer and other serious diseases.
Amgen said the collaboration will initially focus on two programs, with options to add more. The company said Plexium is eligible to receive more than $500 million in milestone payments, along with royalties on product sales, if all options are exercised.
Amgen said it will have a commercial license to each program that advances to a predefined preclinical stage of development and will be responsible for global development and commercialization.
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