Index in US$190m sale

December 1 2009

PanGenetics, a Netherlands-headquartered biotech company, has sold a phase 1 biologic to Abbott Laboratories of the US for up to US$190m.

The drug, PG110, is an antibody for the treatment of chronic pain. The deal sees Abbot pay US$170m upfront with an extra US$20m by way of milestone payments.

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