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news.Immunomedics and UCB have restructured their collaboration and license agreement for the exclusive worldwide rights to develop, market and sell Epratuzumab for all autoimmune disease indications.
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Following the amendment of the deal, UCB gains the flexibility to select a partner to sublicense its rights for certain territories.
In addition, in return for the right to sublicense, UCB returned its buy-in right for the cancer indication to Immunomedics.
Immunomedics on the other hand will receive a non-refundable cash payment of $30m, once the agreement is revised and will be entitled to receive additional payments upon achievement of new regulatory and sales milestones.
UCB EVP and chief medical officer Iris Loew-Friedrich said the amendment would provide UCB an opportunity to explore collaborations with third parties and make use of the opportunities presented by epratuzumab.
"People living with lupus are suffering and waiting for therapeutic options. UCB strongly believes in partnership and in bringing epratuzumab to people living with severe autoimmune diseases – especially lupus," Friedrich added.