here's the part of the release last year where they transferred the rights.. they still will get milestones and royalties
"SEATTLE--(BUSINESS WIRE)--Dec. 13, 2004-- Corixa Corporation (Nasdaq:CRXA - News), a developer of immunotherapeutics, today announced that it has reached an agreement with GlaxoSmithKline (GSK) pursuant to which GSK will acquire worldwide rights and responsibilities related to the manufacturing, development and commercialization of the BEXXAR® therapeutic regimen. The agreement is subject to limited, customary closing conditions.
Under the terms of the agreement, on December 31, 2004, Corixa will transfer to GSK all of Corixa's rights and responsibilities and costs associated with commercial and clinical development of BEXXAR on a worldwide basis. As a result, Corixa will assign or otherwise transfer all of its BEXXAR-related assets to GSK, including the rights to commercialize BEXXAR in Canada. In addition, GSK will assume Corixa's relationship with the Australian Nuclear Science and Technology Organization for the commercialization of BEXXAR in Australasia. Rights to the product in the European Union will also be transferred to GSK as the rights previously held by Amersham Health (now GE Healthcare) have been returned to Corixa. According to the agreement, Corixa will continue to receive development and sales milestones and royalties based on sales of BEXXAR in the United States, Canada and Australasia. GSK and Corixa will continue to equally share royalties on Zevalin sales according to the terms of the previous patent litigation settlement with Biogen Idec.
"Corixa continues to believe in the promise of BEXXAR and the benefit that it can provide for patients with non-Hodgkin's lymphoma," said Steven Gillis, PhD, chairman and chief executive officer of Corixa. "However, BEXXAR's commercial acceptance is coming at a pace that is too slow for Corixa to continue to fund. We are fortunate that we now have an arrangement with GSK that allows for Corixa's transfer of all BEXXAR product rights and obligations, while maintaining Corixa's opportunity to share in the commercial success of the product through various milestone and royalty provisions..." |
