ARTICLE | Product Development

Surviving cancer

May 15, 2006 7:00 AM UTC

Two years have passed since Amgen Inc. returned all rights to epratuzumab (IMMU-103) to Immunomedics Inc. after the monoclonal antibody failed in a Phase II trial in non-Hodgkin's lymphoma. In the interim, IMMU believes it has found the right indications - in autoimmune disease. UCB Group agrees, and last week took an exclusive worldwide license to develop, market and sell epratuzumab for autoimmune indications.

IMMU will receive $38 million in cash up front and is eligible for up to $145 million in cash milestones, $20 million in equity milestones, and royalties. The company also could receive bonuses upon reaching certain sales target levels. UCB (Euronext:UCB, Brussels, Belgium) will assume all current and future development and commercialization costs...