- New Link Genetics (NLNK) and Roche's Genentech (OTCQX:RHHBY) enter into an exclusive worldwide license agreement for the development of New Link's IDO pathway inhibitor, NLG919.
- Under the terms of the agreement, New Link will receive an upfront payment of $150M and will be eligible to receive more than $1B in milestones plus escalating double-digit royalties on commercial sales of multiple products by Genentech. The latter will fund R&D, manufacturing and commercialization costs and will provide research funding to New Link which will continue to pursue development activities associated with NLG919 in combination with its HyperAcute vaccine platform. New Link will retain the option for co-promotion rights for NLG919 and potential next generation IDO/TDO compounds in the U.S.
- NLNK is up 30% premarket on increased volume.