On October 4, 2021 Compugen Ltd. (NASDAQ: CGEN), a clinical-stage cancer immunotherapy company and a leader in predictive target discovery, reported that Compugen is entitled to receive a $6 million milestone payment from AstraZeneca (LSE: AZN) (STO: AZN) (Nasdaq: AZN) triggered by the dosing of the first patient in a Phase 1/2 study evaluating AZD2936, a TIGIT/PD-1 bispecific antibody, in patients with advanced or metastatic non-small cell lung cancer (Press release, Compugen, OCT 4, 2021, View Source [SID1234590785]). AZD2936 is derived from COM902, Compugen’s high-affinity clinical-stage anti-TIGIT antibody.
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"We are proud that AstraZeneca’s TIGIT bispecific program, derived from COM902, has advanced to the clinic and become our fourth clinical stage program originating from our innovative pipeline" said Anat Cohen-Dayag, Ph.D., President and Chief Executive Officer of Compugen. "We hope COM902’s differentiated properties will contribute to the clinical success of AZD2936 and we look forward to the advancement of this important clinical program."
About the Compugen-AstraZeneca License Agreement
In 2018, Compugen and AstraZeneca entered into an agreement by which Compugen provided an exclusive license to AstraZeneca to use Compugen’s monospecific antibodies that bind to TIGIT, including COM902, for the development of bi-specific and multi-specific antibody products, excluding such bi-specific and multi-specific antibodies that also bind to PVRIG, PVRL2 and/or TIGIT. AstraZeneca is responsible for all research, development, and commercial activities. AstraZeneca has the right to create multiple products under this license. To date, Compugen has received a $10 million upfront payment, an additional $2 million milestone payment and is entitled to an additional $6 million payment triggered by this first patient being dosed, out of up to an aggregate milestone amount of $200 million that the Company is eligible to receive in development, regulatory and commercial milestones for the first product, as well as tiered royalties on future product sales. If additional products are developed based on Compugen’s monospecific antibodies that bind to TIGIT, additional milestones and royalties would be due to Compugen.