NEW YORK, June 10-Transkaryotic Therapies has licensed a set of protein patents from Cell Genesys, the company said today.
The license, which is exclusive, covers some of Cell Genesys' work in gene activation.
Under the agreement, Transkaryotic will pay $26 million in up-front license fees, including $11 million cash and $15 million in common stock. Cell Genesys may also receive milestone payments, but not royalties.
Transkaryotic Therapies is a publicly held company based in Cambridge, Mass. It is developing therapeutics based on protein replacement.
Cell Genesys is based in Foster City, Calif.
For further details, see the company press release.