Twist Bioscience Inks Antibody Discovery, Option And License Deal With Bayer For Up To $188 Mln
(RTTNews) - Twist Bioscience Corp. (TWST) announced Thursday an antibody discovery, option and license agreement with Bayer AG (BAYZF.PK, BAYRY.PK, BYR.L), under which Twist Biopharma Solutions, a division of Twist Bioscience, will leverage its Library of Libraries to conduct antibody discovery campaigns against targets to be determined by Bayer.
Bayer will have the option to license antibodies discovered under the collaboration.
Under the terms of the agreement, Twist will receive payments connected with the initiation of research and will be eligible to receive fees associated with research milestones and the exercise of licensing options.
The antibody leads discovered under the collaboration that enter clinical development qualify for certain success-based clinical and commercial milestone payments as well as royalties from product sales.
In total, Twist is eligible to receive up to $188 million in clinical and commercial milestone payments plus royalties. In return, Bayer receives exclusive rights to license the antibodies for commercialization in all global territories.
Twist Bioscience Q3 Results Top Estimates
TSX Ends Modestly Lower
Dollar Turns In Mixed Performance Against Major Counterparts
U.S. Stocks Close Notably Lower; Nasdaq Sheds 1.5 Percent
U.S. Stocks Down Firmly In Negative Territory; Nasdaq Tumbled 1.7 Percent
Swiss Market Ends On Firm Note
Canadian Dollar Declines Against Most Majors
