By Michael Dabaie

Compugen Ltd. said Wednesday its license agreement with AstraZeneca PLC achieved a preclinical milestone.

Therapeutic discovery and development company Compugen gave an exclusive license to AstraZeneca for the development of bispecific and multi-specific antibody products based on one of Compugen's pipeline programs. AstraZeneca is responsible for all research, development and commercial activities.

Compugen said that in connection with this first milestone, it is entitled to receive a $2 million payment from AstraZeneca.

Shares of Compugen were up 4% to $14.76 in premarket trading.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

December 23, 2020 07:34 ET (12:34 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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