Date: 2011-06-24
Type of information: Licensing agreement
Compound: bertilimumab (iCo-008)
Company: Immune Pharmaceuticals (Israel) iCo Therapeutics (Canada)
Therapeutic area: Inflammatory diseases - Immunological diseases
Type agreement: licensing
Action mechanism: Bertilimumab (also known as iCo-008 or CAT-213) is a human immunoglobulin monoclonal antibody targeting eotaxin-1, a member of the chemokine family of proteins that act as messenger molecules between the cells of the immune system. Bertilimumab has been in 126 patients in Phase 1 and 2 studies, has a good safety profile and has shown evidence of efficacy in a severe allergy indication. Bertilimumab may be indicated for inflammatory disorders including Severe Asthma, Inflammatory Bowel Disease (Crohn\'s Disease and Ulcerative Colitis).
Disease:
Details: iCo Therapeutics has announced that Immune Pharmaceuticals has licensed bertilimumab (iCo-008) for systemic uses, pursuant to an option agreement previously announced in December 2010. iCo licensed the exclusive world-wide rights to Bertilimumab in 2006 from MedImmune Limited (formerly known as Cambridge Antibody Technology Limited), the Global Biologics Unit of AstraZeneca.
Financial terms: iCo may receive US $32 million in milestone consideration for the license, plus royalties. iCo retains worldwide exclusive rights to all ocular applications, including a number of sight-threatening diseases. Upfront consideration includes US $500,000 cash, 600,000 IMMUNE shares and 200,000 IMMUNE warrants. Currently IMMUNE shares are worth US $2 per share.
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