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news.Igeneon, a unit of Aphton Corporation, has granted Celltrion a license to commercialize its anti-cancer drug candidate, IGN311, in certain Asian countries including Japan.
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On top of milestone payments which could reach $6 million, Igeneon will be entitled to receive royalties from sales of IGN311 in Asia, once the drug has received marketing approval. Celltrion also has a future option to manufacture for global market supply. The transaction is expected to close on October 1, 2005.
IGN311 is a humanized monoclonal antibody targeting the Lewis-Y antigen that is being developed as a potential new therapy for the treatment of certain epithelial tumors. Lewis-Y is a tumor-related antigen expressed in up to 90% of all epithelial cancers, which includes breast, colon, gastric and pancreatic cancers.
“These agreements are another significant milestone for Celltrion’s development as a global biopharmaceutical company,” said James Panek, Celltrion’s Co-CEO and VaxGen’s Senior vice president of Manufacturing Operations. “We are pleased to work with Aphton on the further development of this important therapy. The development and potential licensure of IGN311 represent important steps in our efforts to establish Celltrion as a major player in the Asian biopharmaceutical market.”