TEL AVIV (MarketWatch) -- Immunomedics Inc., /quotes/zigman/73672/quotes/nls/immu IMMU -0.59% the Morris Plains, N.J., biopharma firm, and UCB SA, /quotes/zigman/246476 UCBJF +1.06% /quotes/zigman/246465 BE:UCB +0.98% the Brussels biopharma firm, adjusted their accord under which they will develop and market epratuzumab for lupus, cancer and other diseases. Under the new terms, Immunomedics gets the rights to market the drug against cancer; previously, UCB had had the right to buy into the marketing of the drug against cancer. In addition, UCB gets the right to sublicense the drug for marketing against lupus and other diseases in certain territories and to select its partners in that effort. The financials: Immunomedics gets $30 million up front; another $30 million if UCB exercises the sublicensing option; and additional payments if the drug reaches certain regulatory and sales goals; and UCB gets a five-year warrant to buy one million Immunomedics shares at $8 each. The drug is currently undergoing testing in two Phase III studies in patients with moderate to severe lupus.
/quotes/zigman/73672/quotes/nls/immu
Volume: 388,813
Dec. 27, 2011 4:00p
/quotes/zigman/246476 Volume: 494.00
Dec. 21, 2011 2:13p
/quotes/zigman/246465 Volume: 6,325
Dec. 28, 2011 9:30a
Source: http://c.moreover.com/click/here.pl?r5670728554
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