PDL Grants Patent Licenses to Merck for Humanized Antibodies
News Jan 04, 2006
Protein Design Labs, Inc. has announced that it has entered into an agreement with Merck & Co., Inc. that provides Merck with non-exclusive licenses under PDL's humanization patents for antibodies developed by Merck against two undisclosed antigens.
In exchange for the license grant, Merck will pay PDL an upfront licensing payment, development milestones and royalties on future sales of any product developed in association with this licensing agreement.
"The licensing of our humanized antibody technology has been the driver for a strong foundation of royalties to PDL, enabling us to advance our pipeline and more recently, build a commercial operation focused on the acute care hospital setting," said Mark McDade, Chief Executive Officer, PDL. "We are pleased that Merck joins our extensive network of licensed partners."
PDL holds various important antibody-related patents, and has entered into agreements with numerous pharmaceutical and biotechnology companies for rights covering 40 humanized antibodies, half of which are in clinical development