Cephalon has agreed to pay London-based ImmuPharma $15 million for an option on the worldwide rights to its experimental lupus drug Lupuzor. Lupuzor is currently in a mid-stage trial at sites in Latin America and Europe.
If the Phase IIb is successful and Cephalon takes up the option, ImmuPharma would be in line for a deal worth up to $500 million in fees, milestones and future royalties. Cephalon would also be responsible for Phase III testing expenses.
"We are excited about entering another specialty market and the potential Lupuzor presents for us to further diversify our product portfolio and to bring the first specific medication for the treatment of lupus to patients living with this chronic, potentially life-threatening disease," said Frank Baldino, Jr., Ph.D. chairman and CEO of Cephalon (photo). "Our current cash position has created the opportunity to make this type of deal, which helps to position Cephalon and our pipeline for longer term growth."
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