Protein Design Labs, SmithKline deal

PDLI received an exclusive worldwide license to develop and market SmithKline's anti-IL-4 antibody to treat asthma. SmithKline may pay an opt-in fee upon PDLI's completion of Phase II testing, in which case the companies will share development costs and profits going forward, with PDLI potentially receiving certain U.S. co-promotion rights. If SmithKline does not opt in, PDLI will own exclusive, worldwide development and marketing rights. ...