Cell Genesys

Foster City, Calif.-based biotech firm will receive $20 mil. in quarterly payments through 1997 from joint venture partner JT Immunotech to fund research of human monoclonal antibody products. The newly formed Xenotech Division will be funded with a total of approximately $40 mil. over the next four years to conduct preclinical research; Cell Genesys has North American rights to any products and Japan Tobacco has exclusive rights in Japan, Taiwan and Korea. The joint venture previously has provided Cell Genesys with $16 mil. since mid-1991, with another $8 mil. due in the next 18 months, for development of new strains of human monoclonal antibody-producing mice