Baxalta Agrees to Pay Up To $1.6 Billion for Symphogen Products

Baxalta Inc. agreed to pay Symphogen A/S of Denmark as much as $1.6 billion for the rights to develop and sell a handful of experimental cancer products that work by harnessing the power of a patient’s own immune system.

Closely held Symphogen will shoulder the cost of getting the treatments through the first stage of clinical tests and get a $175 million upfront payment from Baxalta, which will handle clinical development and commercialization thereafter while paying Symphogen option fees, milestones and royalties on sales, the companies said in a statement on Monday.

Link to Statement:Link

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