After spending more than $100 million to develop fusion protein technology and 10 years on their lead compound, Seragen Inc. and Eli Lilly and Co. think they have the first product from their partnership. The partners reported Phase III results and submitted a BLA for SRGN's interleukin-2 fusion protein in patients with cutaneous T cell lymphoma (CTCL) who have failed other therapies.

The indication is small - it won't get the biotech company to profitability - and more than a third of patients in