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news.ImClone Systems has opted out of its agreement with UCB over the development of a cancer antibody.
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UCB now holds the global patent and marketing rights to the cancer antibody, CDP-791. As a result of this, ImClone now has the right to receive royalties on any future sales of this antibody as decided under their development agreement.
CDP-791 is UCB's proprietary antibody product candidate targeting the vascular endothelial growth factor receptor-2 (VEGFr-2) pathway.
ImClone Systems opted out of this agreement in order to focus its resources on the development of one of its own compounds IMC-1121B, another similar antibody product candidate targeting VEGFr-2.
“We are on target to complete phase I studies of IMC-1121B on several administration schedules in the first half of 2007 and intend to focus significant efforts on developing this promising VEGFr-2 blocking antibody,” said Eric Rowinsky, senior vice president of ImClone Systems.