MedImmune Inc. announced that it has signed a letter of intentto reacquire all rights to its product CytoGam from an unnameddistributor.
MedImmune (NASDAQ:MEDI) will pay the distributor $4.5million up front, give it royalties on future sales, and purchasethe distributor's current inventory once the two parties haveexecuted a definitive agreement. MedImmune of Gaithersburg,Md., and Massachusetts Health Research Institute co-developedthe product.
CytoGam is a polyclonal antibody indicated for the preventionof primary cytomegalovirus (CMV) disease associated withkidney transplantation. CytoGam is also in Phase I clinical trialsfor preventing CMV disease in AIDS patients.
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