Repligen Receives Milestone Payment From Pfizer
WALTHAM, Mass., Jan. 8, 2015 (GLOBE NEWSWIRE) - Repligen Corporation (Nasdaq:RGEN) announced today that on December 30, 2014, it received a $1 million milestone payment from Pfizer, Inc. under the terms of the companies' exclusive worldwide licensing agreement (the "Agreement") for the development of compounds to potentially treat spinal muscular atrophy (SMA), a neuromuscular disease that typically presents in children under age two. Since announcing the Agreement in January 2013, Repligen has received $7 million in upfront and milestone payments. Repligen remains eligible to receive up to $63 million in additional performance-based milestone payments, as well as royalties on any future sales of compounds developed under the Agreement. 2014 Revenue Repligen also today reported preliminary, unaudited total revenue of $63-$63.5 million for the fiscal year ended December 31, 2014. This total revenue figure is comprised of approximately $3 million in revenue from out-licensed therapeutic