Seragen's just-in-time partnership

Seragen's just-in-time partnership

Seragen Inc., with less than six months of cash, has found a strategic alliance in the nick of time.

The company said Friday that it had signed a letter of intent giving Eli Lilly and Co. exclusive worldwide rights to SRGN's Interleukin-2 Fusion Toxin in cancer.

The deal allows Lilly to acquire SRGN's oncology portfolio for a down payment of

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