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news.ImClone Systems has secured rights to license certain antibody protein targets discovered by Caprion Pharmaceuticals for the development of therapeutic products to treat cancer and other indications.
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Caprion will contribute a selection of cancer targets that it has discovered using its proprietary CellCarta proteomics technology platform. ImClone Systems will have exclusive, worldwide rights to develop and commercialize therapeutics against any target it selects.
The financial terms of the agreement include an up-front payment, license fees, milestone payments relating to the development of products by ImClone Systems and royalties on commercial sales of such products. Specific financial terms were not disclosed.
“We are pleased to include ImClone Systems as Caprion’s fifth major alliance partner in the area of oncology antibody targets,” Martin LeBlanc, Caprion’s COO stated. “This collaboration further strengthens Caprion’s leadership position in this area and emphasizes the depth of our drug discovery and development capabilities.”