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news.CoGenesys and Vegenics Limited have entered into a worldwide licensing agreement, providing Vegenics with rights to intellectual property in the field of vascular endothelial growth factors.
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Under the terms of the agreement, Human Genome Sciences spin-off CoGenesys will receive an upfront licensing fee, and is entitled to development milestone payments and royalties based on future sales of therapeutic products developed by Vegenics.
Vascular endothelial growth factors (VEGFs) are a family of proteins that play an important role in promoting the growth of new blood vessels and maintenance of existing blood vessels. The approach of inhibiting VEGF and thus restricting blood and nutrient supply to tumors has potential in the treatment of cancer.
This is CoGenesys’ second license agreement, following a deal the recently formed company entered into with PDL Biopharma earlier this year. It will fit the company’s strategy of advancing compounds into safety and proof of concept trials then securing licensing or partnering deals to fund further development.
The agreement also suits Vegenics well, assisting the Australian company with the development of a pipeline of a pipeline of therapeutic compounds based on antagonists to the VEGFs.