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Genentech Gains Rights to Gene Found by Human Genome Sciences

NEW YORK, Aug. 8 (GenomeWeb News) - Genentech has acquired worldwide patent rights to develop and market drugs using a gene found by Rockville, Md.-based Human Genome Sciences, the companies announced yesterday.

 

Under the terms of the agreement, Genentech has exclusive rights to use the gene to develop any drug for the treatment of immunological or neurological diseases, or cancer. It has non-exclusive rights to develop and commercialize small molecules.

 

Genentech will pay Human Genome Sciences, which lost $47 million last quarter, royalties and milestone payments for any drugs developed.

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