Repligen Corporation
RGEN announced today that it has received a $1 million milestone
payment from Pfizer, Inc. PFE under the terms of the companies' exclusive
worldwide licensing agreement (the "Agreement") for the development of
compounds to treat spinal muscular atrophy (SMA). This first milestone payment
was triggered by completion of specific program activities and coincides with
the successful completion of all transition obligations by Repligen. Repligen
announced the Agreement in January of this year, at which time it received an
upfront payment of $5 million. Repligen remains eligible to receive up to $64
million in additional success-based milestone payments, as well as royalties
on any future sales of compounds developed under the Agreement.
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