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Wilex Banks $17.5M Prometheus Payment for Rencarex Milestone

By Cormac Sheridan
Staff Writer

Wednesday, August 8, 2012

Opting for cash now rather than product sales later, Wilex AG decided to take a payment of $17.5 million as part of the deal it entered last year on the U.S. rights to its Phase III cancer antibody Rencarex (girentuximab) with Prometheus Laboratories Inc. It also stands to get another $2.5 million as part of a revised milestone payment that is contingent on a regulatory filing for the drug.

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