Protein Design Labs Grants License Under Antibody Humanization
Patents to IDEC Pharmaceuticals
PR Newswire - March 20, 1997 08:36
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MOUNTAIN VIEW, Calif., March 20 /PRNewswire/ -- Protein Design Labs, Inc.
(PDL) (Nasdaq: PDLI) announced today that it has granted a worldwide,
nonexclusive license under its antibody humanization patents to IDEC
Pharmaceuticals Corporation (San Diego, CA) (Nasdaq: IDPH). The license is
for a humanized monoclonal antibody to a specific target antigen for treatment
of autoimmune diseases. Pursuant to the license grant, IDEC has agreed to pay
a nonrefundable licensing fee of $1.0 million to PDL and will pay royalties to
PDL on potential sales of the covered product.
"Monoclonal antibodies are the single largest category of biotechnology
compounds in clinical development today," said Laurence Jay Korn, Ph.D., PDL
Chief Executive Officer and Chairperson. "We believe many of these antibodies
are within the scope of PDL's humanization patents. Pursuing additional
license grants under our patents in return for near-term revenues and
potential royalties is an important component of PDL's business strategy."
IDEC is the third biotechnology company (all within the past three months)
in addition to eight pharmaceutical companies to license PDL's humanization
patents. Other licensees have included Hoffmann-La Roche Inc., Novartis
Pharmaceuticals Corporation, Yamanouchi Pharmaceutical Co., Ltd., Kanebo,
Ltd., Boehringer Mannheim GmbH, Mochida Pharmaceutical Co., Ltd., Sankyo Co.,
Ltd., Genetics Institute, Inc. (a subsidiary of American Home Products
Corporation), Biogen, Inc. and a Japanese company whose identity has not been
disclosed.
PDL's antibody humanization patents, which PDL believes cover most
humanized antibodies, issued in the U.S. and Europe in 1996. Corresponding
patent applications are pending in Japan and other countries.
Protein Design Labs, Inc., founded in 1986, is developing human and
humanized antibodies to prevent or treat a variety of autoimmune and
inflammatory conditions, cancers and viral infections. PDL has four potential
products in human clinical trials. PDL's human and computer-designed
SMART(TM) (humanized) antibodies have a longer half-life and are less
immunogenic than mouse antibodies, and PDL believes they will therefore be
more useful as human therapeutics.
This document contains forward-looking statements which involve risks and
uncertainties, including, without limitation, statements concerning the
ability of PDL to enter into additional licensing arrangements and obtain
significant licensing fees under such arrangements. Actual results may differ
depending upon PDL's ability to defend the validity and scope of its patents
and related intellectual property rights as well as those discussed in the
risk factors section of the current PDL reports filed with the Securities and
Exchange Commission.
NOTE: Protein Design Labs and the PDL logo are registered U.S. trademarks
and SMART is a trademark of Protein Design Labs, Inc.
SOURCE Protein Design Labs Inc.
CONTACT: Fred Kurland, VP and CFO of Protein Design Labs, Inc.,
415-903-3987
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I don't know what impact this will have on IDEC since we don't even know which antibody this is for! I hope that this doesn't mean that IDEC's primatized antibodies will each require licenses
Ed |
