CoGenesys, a division of Human Genome Sciences, Inc. and PDL BioPharma, Inc. have announced that the companies have entered into a worldwide licensing agreement that provides PDL certain exclusive rights to intellectual property for an undisclosed target antigen discovered by Human Genome Sciences.
Under terms of the agreement, CoGenesys is entitled to an upfront licensing fee, development milestone payments and royalties on future sales of antibody therapeutics developed by PDL against the target.
PDL also will provide CoGenesys with access to its antibody humanization technology platform.
"We are delighted to partner with CoGenesys to enable further development of this novel preclinical therapeutic program," said Richard Murray, Ph.D., Senior Vice President, Chief Scientific and Technical Officer, PDL.
"We believe this is an exciting and promising target, one that reflects the novelty and strength of our early stage pipeline."
"We are pleased that our CoGenesys division has completed the agreement with PDL and look forward to supporting PDL's progress in developing innovative antibody-based therapeutics based on the target antigen to which rights have been granted," said H. Thomas Watkins, President and Chief Executive Officer of Human Genome Sciences.
"We are also pleased that the agreement provides CoGenesys with access to PDL's humanization platform, which will help enable CoGenesys' own internal discovery and development programs."