Immunomedics Inc. said Thursday that it has signed adevelopment and licensing agreement with Adria Laboratories,giving Adria exclusive rights to market Immunomedics' in vivocancer imaging products in the United States and Canada.
The products include ImmuRaid-CEA for colorectal, breast andlung cancers; ImmuRaid-LL2 for B-cell lymphoma and certainleukemias; and ImmuRaid-AFP for liver and germ cell cancers.
Immunomedics of Warren, N.J., will receive sales royalties andtransfer payments on products manufactured for Adria. Inaddition, Immunomedics may receive up to $22.4 million, ofwhich $5 million is an up-front licensing fee. The remainderwill come in additional licensing fees, milestone payments,and research and development support.
Immunomedics has applied for U.S. marketing approval forImmuRaid-CEA for colorectal cancer. The other products are inPhase I/II clinical trials. The company has filed to beginclinical trials of ImmuRaid-CEA in Canada.
Immunomedics stock (NASDAQ:IMMU) closed Thursday at $7.38,up 38 cents.
Adria of Dublin, Ohio, is a division of Erbamont Inc., asubsidiary of Montedison SpA of Italy.
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