Acquisitions and License Agreements

12 Months Ended

Dec. 31, 2021


6.			License Agreements

Silence Therapeutics

In July 2019, the Company entered into a license and collaboration agreement with Silence Therapeutics plc ("Silence") to develop and commercialize ribonucleic acid interference ("RNAi") drug targets designed to inhibit the complement cascade, a group of proteins that are involved in the immune system and that play a role in the development of inflammation and made an upfront payment of $20.0 million, recorded within R&D expense. Under the terms of the agreement, the Company obtained an exclusive worldwide license to Silence's SLN501 silencing therapy. Silence will be responsible for preclinical activities, and for executing the development program until the end of Phase 1, after which the Company will assume clinical development and responsibility for global commercialization.

Advanced Accelerator Applications

In 2007, the Company's Nuclear Imaging business entered into a license agreement with BioSynthema, Inc. ("BioSynthema"), which was subsequently amended in 2010 when Advanced Accelerator Applications ("AAA") acquired BioSynthema. Pursuant to the amended agreement, upon the first commercial sale of Lutathera® ("Lutathera"), AAA was to provide the Company with a royalty based on net sales of the product through January 1, 2020. In early 2018, the U.S. Food and Drug Administration ("FDA") approved Lutathera for treatment of gastroenteropancreatic neuroendocrine tumors and commercial sales commenced. During fiscal 2019, in relation to this agreement, the Company recognized royalty income of $39.0 million, which was recognized within other income, net in the consolidated statement of operations.