Here is some recent news from the newswire. Current IDPH price jumped about a dollar with some very large blocks. I hope that this is the start of a great rally!
IDEC Pharmaceuticals Grants Boehringer Ingelheim GmbH License to Technology for High Yield Protein
Expression
SAN DIEGO, Jan. 16 /PRNewswire/ -- IDEC Pharmaceuticals (Nasdaq: IDPH)
today announced that Boehringer Ingelheim GmbH of Germany has licensed IDEC's
proprietary vector technology for high expression of recombinant proteins in
mammalian cells. Under the agreement, Boehringer Ingelheim will pay IDEC
undisclosed licensing fees, as well as royalties on sales of Boehringer
Ingelheim products manufactured using the technology.
The agreement with Boehringer Ingelheim is the third platform license that
IDEC has executed for this high yield gene expression technology. The first
license was granted to Genentech, Inc., IDEC's partner on the development of
IDEC-C2B8 and IDEC-Y2B8, immunotherapies for non-Hodgkin's lymphomas. The
second license was granted to Chugai Pharmaceutical Co., Ltd., of Japan. IDEC
also undertakes individual cell line development contracts using this
technology.
An international corporation with headquarters in Ingelheim (Germany),
Boehringer Ingelheim GmbH operates in the pharmaceutical, biological and
chemical sectors. The Boehringer Ingelheim Corporation is represented on
every continent, with about 160 companies around the world. With its own
research, production and distribution facilities, it ranks among the top
20 pharmaceutical companies in the world.
IDEC Pharmaceuticals focuses on developing targeted immunotherapies for
the treatment of cancer and autoimmune diseases. IDEC's products are
primarily designed to act through immune mechanisms and offer greater
specificity of action, longer therapeutic effect and lower toxicity than is
typical of existing therapies. All of IDEC's products are designed for
administration in outpatient settings, providing the opportunity to reduce
overall treatment costs.
IDEC Pharmaceutical's press releases are available at no charge through PR
Newswire's "Company News On-Call" fax service. For a menu of IDEC's current
press releases and quarterly reports, or to retrieve a specific release, call
800-758-5804, ext. 432581, or on the Internet at http:\\www.prnewswire.com.
The statements made in this press release contain certain forward looking
statements that involve a number of risks and uncertainties. Actual events or
results may differ from the company's expectations. In addition to the
matters described in this press release, timelines for clinical ongoing
activity are subject to change, results of pending or future clinical trials
cannot be accurately predicted and decisions by the FDA and other regulatory
agencies, as well as the risk factors listed from time to time in the
company's SEC filings, including but not limited to its Annual Reports on Form
10-K for the year ended December 31, 1995, and Form S-3 filed May 3, 1996, may
affect the actual results achieved by the company. |
