Blue what do you think of this: "XOMA recorded revenue of $17 million related to the assignment of certain anti-CD20 antibody patents and royalty rights to Pharmaceutical Partners, LLC. XOMA previously licensed this technology exclusively to Genentech, Inc. (NYSE: GNE), who in turn sublicensed it to IDEC Pharmaceuticals Corporation (Nasdaq: IDPH) for use in the recently approved Rituxan™ product.
"This innovative transaction adds another product to our portfolio while enabling XOMA to realize significant cash to fund its core development programs," said Dave Madden of Pharmaceutical Partners. His partner Pablo Legorreta added, "Pharmaceutical Partners was created to invest in royalty interests in pharmaceutical products, and as in the XOMA transaction, we are providing non-recourse, non-dilutive financing in exchange for assuming the risk of the royalty stream on a specific product."
"An important part of our business strategy has been to realize value from our non-core technologies to fund development of our BPI product platform," said Jack Castello, chairman, president and CEO of XOMA."
he called that INNOVATIVE, I call that rotten MACKERELLE brilliant under the moonlight but STINKY !!! |
