Seres Therapeutics Shares Up 15% on AstraZeneca Collaboration
March 11 2019 - 10:15AM
Dow Jones News
By Chris Wack
Shares of Seres Therapeutics Inc. (MCRB) jumped almost 15% to
$5.88 after announcing a collaboration with AstraZeneca PLC
(AZN).
The Cambridge, Mass.-based novel drug company said Monday that
the collaboration is focused on further elucidating the potential
of microbiome therapeutics to augment immuno-oncology treatment for
cancer.
Seres' SER-401, an investigational microbiome therapeutic, may
be studied in combination with AstraZeneca compounds targeting
various cancers.
Under the terms of the exclusive collaboration, AstraZeneca will
provide Seres with $20 million in three equal installments over two
years, with the first payment due at the start of the agreement. In
addition, AstraZeneca will also reimburse Seres for research
activity related to the collaboration. Seres will maintain rights
to oncology targeted microbiome therapeutic candidates, and
AstraZeneca will obtain the option to negotiate for rights to those
programs and other inventions arising out of the collaboration.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
March 11, 2019 10:00 ET (14:00 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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