Protein Design Labs
Acquires rights to six monoclonal antibodies from Sandoz. Two of the MAbs, one for the treatment of cytomegalovirus and one for hepatitis B, have completed Phase I/II clinical trials. Two others -- for herpes simplex and varicella zoster viruses -- are in preclinical studies. The final two, which are both for epithelial cancers, were originally humanized from mouse antibodies by PDL for Sandoz; one has completed Phase I/II. PDL is paying Sandoz $5 mil. and could pay an additional $5 mil. in milestone payments. PDL says that "Sandoz has certain copromotion and comarketing rights and will earn royalties on PDL product sales in countries where it does not sell those products with PDL".
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