Implicit acquires monoclonal antibody from Lilly

IC14 is a clinical stage recombinant chimeric monoclonal antibody which recognizes and blocks the function of human CD14, an essential component of the innate inflammatory response to bacterial infection. CD14 triggers activation of the innate immune response to bacterial components including lipopolysaccharide via the Toll-like receptor (TLR) pathway.

Implicit has paid an undisclosed consideration combining cash and stock to Lilly. Lilly will also receive a royalty on future IC14 sales.

IC14 had earlier been in development for severe sepsis at Icos which was acquired by Lilly in 2007. Implicit intends to initiate Phase II clinical development in acute lung injury during 2009, and recently completed a capital round in which its shareholders added A$6 million to its cash balance.

Johnson and Johnson, The Scripps Research Institute, The Rockefeller University, and Lilly are parties to a separate agreement with Implicit which will see the payment to them by Implicit of milestones and royalties on IC14 development and commercialization.

Ian Frazer, chief scientific officer of Implicit, said: Implicit Bioscience brings substantial expertise and passion to the treatment of patients with immune-mediated disease. We intend to develop this promising drug to treat acute lung injury caused by a dysregulated immune response amongst intensive care patients who are on mechanical ventilation. These patients have a significant mortality risk with limited treatment options.