PDL acquires intellectual rights for target antigen

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. Additional terms were not disclosed.

“We are delighted to partner with CoGenesys to enable further development of this novel preclinical therapeutic program,” said Dr Richard Murray, senior vice president of PDL. “We believe this is an exciting and promising target, one that reflects the novelty and strength of our early stage pipeline.”

Currently PDL BioPharma’s late-stage product pipeline includes six investigational compounds in phase II or phase III clinical development for hepatorenal syndrome, inflammation and autoimmune diseases, cardiovascular disorders and cancer.