Air Methods Corp. has an agreement with Oncotech Inc. todevelop Air Methods' ImuVert cancer therapeutic.
ImuVert was developed by Cell Technology Inc., which mergeditself into Air Methods in November and began phasing out ofbiotechnology.
Phase II trials of ImuVert "were just not compelling enough" toproceed with development, said William Critchfield, AirMethods' executive vice president and chief financial officer.Licensing ImuVert will allow Air Methods to concentrate on itsprimary business as a provider of emergency air medicaltransportation services. The Denver company has threeoverseas licensees.
Costs of development will be paid by Oncotech, which willmake royalty payments on sales in North America and Asia,Critchfield said. Although Cell Technology had been developingImuVert for brain tumors and had received orphan drugdesignation for this application, Oncotech of Irvine, Calif., willbe developing it for use on breast and ovarian tumors,Critchfield said. -- KH
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