Repligen gets first milestone payment from Pfizer for SMA program

|About: Repligen Corporation (RGEN)|By:, SA News Editor

Repligen (RGEN) receives its first $1M milestone payment from Pfizer (PFE) related to the companies' licensing agreement for spinal muscular atrophy compounds.

RGEN received $5M upfront and is eligible to receive as much as $64M more under the terms of the deal, not including royalties from any marketed compounds.

The spinal muscular atrophy program was out-licensed to PFE in order to allow RGEN to focus on its bioprocessing business while still preserving the economic value of the therapeutics business for shareholders. (PR)