T Cell Sciences deal

TCEL in September began a Phase I trial of sCR1 in adult respiratory distress syndrome, and plans to begin by the end of the year a trial in reperfusion injury following heart attack.

SmithKline received an option for clinical development and marketing of sCR1 outside of North America. If SmithKline exercises the option, it will pay TCEL an undisclosed option fee, assume all Phase III development expenses outside of North America, and pay TCEL a royalty on sales. SmithKline also has the right, through the end of 1994, to negotiate to be the commercial manufacturer of sCR1. ...