Amgen Snatches Up Medigene Cancer Spin-Off

A week after unveiling key management changes — including a new CEO — Medigene said Amgen was acquiring its U.S. spin-off, Catherex.

The agreement includes an upfront payment of $10.5 million from Amgen. In addition, Medigene — which is based in Martinsried, Germany — will be entitled to payments upon the achievement of certain regulatory and sales-based milestones for Imlygic.  The FDA approved it for the treatment of advanced metastatic melanoma in October.

Catherex owns a patent portfolio in the field of oncolytic viruses, which Amgen now will own.