Compugen Receives First $1.2 Milestone Payment From Bayer HealthCare

July 8, 2014 | After signing a $500 million agreement with pharmaceutical company Bayer HealthCare last year, Compugen announced that it received its first payment of $1.2 million for reaching a cancer immunotherapy milestone. The $1.2 million is only a fraction of the nearly $30 million in milestone payments that Comupgen is set to receive from Bayer. The collaboration between Compugen and Bayer is aimed at developing and commercializing therapeutic antibodies originally discovered by Compugen.

Compugen was founded in 1993 by Eli Mintz, Simchon Faigler, and Amir Natan as a drug discovery company, but also engages in the development and marketing of bioinformatics software platforms.