Immune (NASDAQ:IMNR) signs pact with Agouron (NASDAQ:AGPH)
Reuters, Thursday, June 11, 1998 at 16:59
LA JOLLA, Calif., June 11 (Reuters) - Immune Response Corp
said Thursday it signed a pact with Agouron Pharmaceuticals for
final development and commercialization of HIV treatment REMUNE
worth up to $77 million to Immune Response over two years.
REMUNE is an immune-based therapy for the treatment of HIV
infection which was discovered by Immune Response and is in
phase III clinical trials. The two companies plan to complete
development and apply for registration of REMUNE in 1999.
Under the agreement Immune Response will make commercial
supplies of the drug and Agouron will have exclusive rights to
market it in North America, Europe, as well as in certain other
countries.
Immune Response may receive as much as $77 million over the
next two years, including license and milestone payments of $45
million, payments to support development of $18 million, and
the purchase of $14 million of Immune Response common stock at
a premium to market, the company said in a statement.
The two companies will equally share all profits from the
commercialization of REMUNE.
"We made the decision to aggressively pursue this
opportunity with Immune Response after a comprehensive review
of clinical data on REMUNE from a number of studies, which
convinced us of the unique potential of this product to make a
powerful contribution to the treatment of HIV infection and
AIDS," said Agouron's President and Chief Executive Peter
Johnson.
REMUNE is an immune-based therapy, derived from HIV itself,
which has been shown to elicit an HIV-specific immune response.
Copyright 1998, Reuters News Service |
