EUSA Pharma will keep about half of the $44 million in up front fees and milestones it is scheduled to receive from GlaxoSmithKline for a license covering a pre-clinical antibody targeted at lymphoma and rheumatoid arthritis. The other half goes to its development partner, Vaccines Inc. The antibody--OP-R003--is a protein that targets interleukin-6, a common target for a number of drug developers.
"The out-licensing of this early-stage antibody is another strategic milestone for EUSA, as we continue to focus our business on marketed and late-stage products in the oncology, pain control and critical care areas," said Bryan Morton, CEO of EUSA, a developer based in the U.S. and the U.K.
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