Big pharma, Partnering, Pharma

Takeda terminates pharma partnership with Immunomedics

Posted on 11 October 2013

Tags: , , , ,

Immunomedics has received notification from Takeda, big pharma company, of the termination of the licensing pharma partnership agreement signed between Nycomed GmbH and Immunomedics for the worldwide rights to veltuzumab, the humanized anti-CD20 antibody, for all non-cancer indications.

The notification was received subsequent to the Company's filing of arbitration proceedings in an effort to resolve the dispute the Company has with Nycomed concerning delays in the development of veltuzumab, which the Company argues is a material breach of the licensing agreement.

As a result of the pharma partnership termination, all rights to veltuzumab revert to the Company and both parties have begun discussions regarding the transition of veltuzumab back to the Company.

In addition, the Company will continue to pursue the arbitration procedure to address its claim for damages due to delays in the development of veltuzumab and expects the arbitration to continue while the product transition takes place.

The Company licensed the worldwide rights to develop, manufacture and commercialize veltuzumab, in the subcutaneous formulation, for the treatment of all non-cancer indications to Nycomed GmbH in July 2008.

For further deal information visit Current Agreements (subscription required)

Related

Read: Big pharma deal news - latest deal news for top 50 pharma / big pharma companies

Report: Monoclonal Antibodies Partnering Terms and Agreements

Report: Partnering Deals and Alliances with Takeda

Browse: Complete Current Partnering report catalog

View: Current Partnering’s Partnering Scorecard – view top life science partnering deals by value

View: Current Partnering’s Deal Metrics – the latest deal trend infographics for life science deal making

View: Current Partnering’s Big Pharma Deal Making Scorecard – latest trends in big pharma deal making activity

View: Current Partnering’s Big Biotech Deal Making Scorecard – latest trends in big biotech deal making activity

Signup: Current Partnering Dealmakers Update – weekly newsletter providing the latest life science industry deal news, deal making trends, partnering events – sign up now

Signup: Current Agreements Deals Review – monthly newsletter - reviewing the previous month’s life science deal making – partnering, M&A and financing – sign up now

Subscribe: Current Agreements life sciences partnering, M&A and financing deals database – find out more

Follow us on: LinkedIn Current Partnering | LinkedIn Business Development Network | @Currentpartner on Twitter

 

Print Friendly, PDF & Email

Leave a Reply