Compugen Announces Milestone Payment from AstraZeneca Triggered by First Patient Dosed with TIGIT Bispecific Derived from COM902

- The first patient has been dosed in a Phase 1/2 study of AZD2936, a TIGIT/PD-1 bi-specific derived from COM902, entitling Compugen to receive a $6 million payment from AstraZeneca as part of a license agreement

HOLON, Israel I October 4, 2021 I Compugen Ltd. (NASDAQ: CGEN), a clinical-stage cancer immunotherapy company and a leader in predictive target discovery, today announced that Compugen is entitled to receive a $6 million milestone payment from AstraZeneca (LSE: AZN) (STO: AZN) (Nasdaq: AZN) triggered by the dosing of the first patient in a Phase 1/2 study evaluating AZD2936, a TIGIT/PD-1 bispecific antibody, in patients with advanced or metastatic non-small cell lung cancer. AZD2936 is derived from COM902, Compugen's high-affinity clinical-stage anti-TIGIT antibody.

"We are proud that AstraZeneca's TIGIT bispecific program, derived from COM902, has advanced to the clinic and become our fourth clinical stage program originating from our innovative pipeline" said Anat Cohen-Dayag, Ph.D., President and Chief Executive Officer of Compugen. "We hope COM902's differentiated properties will contribute to the clinical success of AZD2936 and we look forward to the advancement of this important clinical program."

About the Compugen-AstraZeneca License Agreement

In 2018, Compugen and AstraZeneca entered into an agreement by which Compugen provided an exclusive license to AstraZeneca to use Compugen's monospecific antibodies that bind to TIGIT, including COM902, for the development of bi-specific and multi-specific antibody products, excluding such bi-specific and multi-specific antibodies that also bind to PVRIG, PVRL2 and/or TIGIT.  AstraZeneca is responsible for all research, development, and commercial activities. AstraZeneca has the right to create multiple products under this license. To date, Compugen has received a $10 million upfront payment, an additional $2 million milestone payment and is entitled to an additional $6 million payment triggered by this first patient being dosed, out of up to an aggregate milestone amount of $200 million that the Company is eligible to receive in development, regulatory and commercial milestones for the first product, as well as tiered royalties on future product sales. If additional products are developed based on Compugen's monospecific antibodies that bind to TIGIT, additional milestones and royalties would be due to Compugen.

About the Study

Details are available on ClinicalTrials.gov, identifier: NCT04995523

About Compugen 

Compugen is a clinical-stage discovery and development company utilizing its broadly applicable, predictive computational discovery platforms to identify novel drug targets and develop therapeutics in the field of cancer immunotherapy. Compugen's lead product candidate, COM701, a first-in-class anti-PVRIG antibody, for the treatment of solid tumors, is undergoing Phase 1 studies as a single agent and in dual, and triple combinations.  COM902, Compugen's second fully owned clinical antibody targeting TIGIT, for the treatment of solid and hematological tumors, is undergoing Phase 1 studies as a single agent and in dual combination. Partnered programs include bapotulimab, a first-in-class therapeutic antibody in Phase 1 development targeting ILDR2 licensed to Bayer under a research and discovery collaboration and license agreement, and AZD2936, a TIGIT/PD-1 bispecific in Phase 1 development derived from COM902 through a license agreement with AstraZeneca for the development of bispecific and multi-specific antibodies. Compugen's therapeutic pipeline also includes early-stage immuno-oncology programs focused largely on myeloid targets. Compugen is headquartered in Israel, with offices in South San Francisco, CA. Compugen's shares are listed on Nasdaq and the Tel Aviv Stock Exchange under the ticker symbol CGEN. For additional information, please visit Compugen's corporate website at www.cgen.com

SOURCE: Compugen

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