Immunomedics will receive initial cash payments of $38 million and could receive potential milestone payments of up to $145 million in cash and $20 million in equity investments, depending achievement of regulatory milestones over several years.
In addition to receiving royalties on sales, Immunomedics could also receive sales bonuses upon reaching certain sales target levels.
Epratuzumab’s most advanced program is for the treatment of systemic lupus erythematosus (SLE). The product has been granted FDA fast track designation in this indication and is currently undergoing two phase III clinical trials.
Under the terms of the agreement, UCB will assume all costs associated with current and future clinical development and commercialization of epratuzumab for the treatment of patients with SLE.
“We are excited to collaborate with UCB, since they have demonstrated leadership in the development of monoclonal antibodies. We believe that they are well suited to optimize the potential of epratuzumab in multiple autoimmune disease indications,” commented Cynthia Sullivan, president and CEO of Immunomedics.