Immunomedics (IMMU) Epratuzumab Agreement w/ UCB S.A. Now Worth ~$68M

Immunomedics, Inc. (Nasdaq: IMMU) and UCB S.A. have amended their Development, Collaboration and License Agreement for the exclusive worldwide rights to develop, market and sell epratuzumab for all autoimmune disease indications. The restructuring provides UCB with the flexibility to select a partner to sublicense its rights for certain territories. Under the terms of the amended agreement, in return for the right to sublicense, UCB returned its buy-in right for the cancer indication to Immunomedics.

Immunomedics will receive a non-refundable cash payment totaling $30 million upon execution of the amendment. In the event UCB exercises its right to sublicense, Immunomedics will be entitled to receive an additional cash payment of $30 million and additional payments upon achievement of new regulatory and sales milestones pursuant to the amended Development, Collaboration and License Agreement. In addition, Immunomedics will issue to UCB a 5-year warrant to purchase one million shares of Immunomedics' common stock at an exercise price equal to $8.00 per share.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• FDA authorizes 11 ZYN Ultra nicotine pouches for Philip Morris
• Gray Media closes $750M note offering to refinance higher-rate debt
• BIGG Digital Assets to rename as Surge Digital, consolidate shares