ImClone bows out of lung cancer pact with UCB

ImClone is opting out of a deal with UCB to develop a new lung cancer therapy. ImClone says it wants to focus its attention on the antibody IMC-1121B, which targets a protein involved in the development of lung cancer. ImClone retains a royalty interest in CDP-791 if UCB can commercialize the therapy.

"The development of CDP-791 is progressing well and we are eagerly awaiting the results of the phase IIa evaluation in the next couple of months," said Melanie Lee, UCB's executive vice president for R&D.

- see ImClone's release on the decision
- here's the AP report on ImClone