GAITHERSBURG, Md., April 20 /PRNewswire-FirstCall/ -- MedImmune, Inc. announced today that it has entered into an exclusive licensing and collaboration agreement with privately held biopharmaceutical company Elusys Therapeutics, Inc. for select infectious disease targets. Under the agreement, MedImmune will develop and seek to commercialize new therapies targeting infectious disease by combining its expertise in monoclonal antibodies with Elusys' proprietary Heteropolymer (HP) Antibodies.
"As a company with a proven track record in developing and marketing innovative antibodies and vaccines for preventing infectious diseases, MedImmune is excited to expand its product research and development programs through this collaboration with Elusys," said Peter A. Kiener, D.Phil., MedImmune senior vice president, research. "We look forward to investigating Elusys' proprietary HP Antibodies with the hope that our efforts will lead to new treatment and prevention options for a variety of infectious diseases."
Under the terms of the agreement, Elusys will receive an undisclosed upfront payment, milestone payments and royalties on any future marketed products. MedImmune Ventures, Inc., a wholly owned venture capital subsidiary of MedImmune, Inc., will also make an equity investment in Elusys.
"We are delighted to enter into this collaboration with MedImmune as our teams share a common commitment to develop new infectious disease therapies that will ultimately benefit patients," said Elizabeth Posillico, Ph.D., president and CEO of Elusys Therapeutics, Inc. "This collaboration provides additional validation for our proprietary HP Antibodies and nicely complements our strategy as we advance internally the development of our product development programs."
About Elusys' HP Antibodies
Elusys' Heteropolymer Antibodies are designed to enhance the effectiveness of the body's natural immune system mechanisms to pathogens and to provide a platform to develop novel drug candidates targeted against bacterial, viral and fungal infections. An HP Antibody consists of a monoclonal antibody specific to an immune receptor (CR1) that is linked to a second antibody that binds to a particular pathogen. After administration, the HP Antibody rapidly binds the target pathogens to red blood cells.
Recent in vivo studies suggest that in addition to potential infection treatment, HP Antibodies may also provide active immunity against secondary infections from the same pathogen. This suggests that an HP Antibody may be useful as a therapeutic vaccine to help provide long-term protection from infection.
About MedImmune
MedImmune strives to provide better medicines to patients, new medical options for physicians, rewarding careers to employees, and increased value to shareholders. Dedicated to advancing science and medicine to help people live better lives, the company is focused on the areas of infectious diseases, cancer and inflammatory diseases. With more than 2,200 employees worldwide,
MedImmune is headquartered in Maryland. For more information, visit the company's website at http://www.medimmune.com.
This announcement contains, in addition to historical information, certain "forward-looking statements" regarding the development of product candidates by MedImmune, Inc. using HP technology. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change current expectations and could cause actual outcomes and results to differ materially from current expectations. In addition to risks and uncertainties disclosed in MedImmune's filings with the U.S. Securities and Exchange Commission, MedImmune can provide no assurance that these products will be commercially successful. In addition, no assurance exists that development efforts for these products will succeed, that these products will receive required regulatory approval or that, even if regulatory approval is received, they will be commercially successful. MedImmune undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise except as may be required by applicable law or regulation.
MedImmune, Inc.CONTACT: Media: Jamie Lacey, +1-301-398-4035, or Investors: Peter Vozzo,+1-301-398-4358, both of MedImmune, Inc.
Web site: http://www.medimmune.com/
