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news.MedImmune is to acquire privately held Cellective Therapeutics. The deal will expand MedImmune's pipeline of potential drug candidates, particularly in the areas of oncology and immune disorders.
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The transaction provides MedImmune with three preclinical stage programs developing monoclonal antibodies that target the B-cell antigens CD19, CD20 and CD22. These antigens are believed to play important roles in regulating the immune system.
Under the terms of the agreement, MedImmune will acquire all outstanding equity interests of Cellective in a cash transaction, which is expected to close by the end of October 2005. MedImmune will also provide Cellective shareholders with future payments for the company’s three antibody programs should certain product development and sales milestones be achieved.
“We are delighted that MedImmune recognizes the value of Cellective’s promising portfolio of monoclonal antibodies and extensive knowledge in the field of B-cell biology,” said Arthur Mandell, president and CEO of Cellective Therapeutics. “Although Cellective has a relatively short history, it has multiple antibody product candidates with potential in both oncology and autoimmune diseases.”
CD19, CD20 and CD22 are B-cell lineage-specific molecules involved in immune regulation. Preclinical studies indicate that antibodies targeting these antigens may block B-cell activities that are associated with many tumors and autoimmune diseases, including multiple myeloma, B-cell lymphomas, rheumatoid arthritis, and lupus.