Under the terms of the funding agreement, which is in support of Compugen’s Pipeline Program, Baize Investments has obtained a financial interest in five designated Compugen-discovered molecules and has been issued a warrant to purchase 500,000 Compugen shares at an exercise price of $6.00 per share, expiring 30 June 2013.
Baize Investments’ financial interest in the five designated molecules consists of the right to receive from Compugen up to 10% of certain future payments received by Compugen from third parties in the event of the successful licensing out for development and/or commercialization of such designated Compugen molecules.
Baize Investments chairman Murray Goldman said that during the past few years, they have followed Compugen’s scientific progress and growing predictive discovery capabilities.
"We are extremely pleased to become a financial partner in advancing these exciting product candidates, all of which have the potential to address unmet medical needs," Goldman said.