CAMBRIDGE, England and LEIDEN, Netherlands, Dec. 20 /PRNewswire-FirstCall/ -- Cambridge Antibody Technology (Nasdaq: CATG - News; LSE: CAT - News) and Crucell N.V. (Nasdaq: CRXL; Euronext) announce today that they have agreed on terms whereby Crucell receives from CAT a worldwide license with respect to all CAT's antibody phage display technology patents, both pending and granted. As a result of this agreement, all existing litigation between the two companies has been withdrawn. CAT obtains an option to develop certain antibodies, opening the way for further collaboration between the companies.
Under the agreement CAT will receive an initial license fee from Crucell. In return, Crucell, and its partners, will be free to develop and commercialize human antibody products against targets, using CAT's patented phage display technology. This will provide Crucell freedom under the CAT patents to fully exploit its proprietary MAbstract(TM) technology and other phage display technology.
CAT will receive milestone and royalty payments for any antibody products that Crucell or its partners develop that are derived from Crucell's MAbstract(TM) technology or other technology involving phage display.
Peter Chambre, CAT's Chief Executive Officer, commented: "We are delighted to have agreed a settlement whereby Crucell takes a license to CAT's patents, on terms that will allow both companies to develop their respective businesses. In removing some of the uncertainty in the field of antibody patents, both companies will be better able to concentrate on their key activities of developing antibody-based drugs."
Dinko Valerio, Chief Executive Officer of Crucell, commented: "Crucell is very pleased that this agreement has been finalized on favorable terms for both parties. We look forward to collaborating with CAT in the future in the field of target discovery, using our proprietary MAbstract(TM) technology." ... |
