Pfenex Earns $11 Million Development Milestone under its Development and License Agreement with Jazz Pharmaceuticals
PFENEX INC (PFNX)
NASDAQ:AMEX Investor Relations:
pfenex.com
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Source: GlobeNewswire
SAN DIEGO, Sept. 05, 2019 (GLOBE NEWSWIRE) -- Pfenex Inc. (NYSE American: PFNX) today announced that it has earned an $11 million development milestone under its development and license agreement with Jazz Pharmaceuticals. The milestone is associated with process development activities for PF745, a recombinant crisantaspase with half-life extension technology. “We are very pleased with our progress on PF745 and we believe the Jazz collaboration overall further validates the versatility of our proprietary protein expression platform and the quality of our development capabilities,” said Eef Schimmelpennink, Chief Executive Officer of Pfenex. “Similarly, we are appreciative of the progress recently reported by Jazz on PF743 (JZP-458) with the completion of the Phase 1 study and announcement of plans to initiate a Phase 2/3 study later in 2019.” Under the terms of the development and license agreement, Pfenex is eligible to receive an aggregate total of up to $224.5 million in develo
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