Emergent (EBS) to Retain TRU-016 Rights Following Collaboration Termination w/ Abbott (ABT)
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Emergent BioSolutions Inc. (NYSE: EBS) has announced plans for its TRU-016 program following receipt of a notice from Abbott (NYSE: ABT) that it is terminating its co-development and co-commercialization agreement. Abbott’s decision is a result of the company's portfolio prioritization process. TRU-016, Emergent’s humanized anti-CD37 mono-specific protein therapeutic, recently commenced a Phase 2 clinical study for chronic lymphocytic leukemia (CLL) and is currently in the middle of Phase 1b clinical evaluation in non-Hodgkin’s lymphoma (NHL). These studies will be completed, and final study data will be available by 1H 2013.
Following the termination of the agreement, Emergent will retain worldwide rights for the development and commercialization of TRU-016, and Abbott will be obligated to provide certain forms of transition assistance to Emergent for a certain period of time. Emergent does not expect that termination of the Abbott agreement will have a material impact on its planned R&D expenditures for 2012.
In a separate release issued today, Emergent announced the initiation of patient dosing in the Phase 2 study (protocol 16201) of TRU-016 in combination with bendamustine for patients with relapsed CLL. The initiation of this clinical trial triggered a $6 million milestone payment to Emergent by Abbott. The Phase 2 portion of this study was initiated under the collaboration agreement following achievement of the Phase 1b study objectives and authorization for the commencement of the Phase 2 study by an independent data monitoring committee.
Following the termination of the agreement, Emergent will retain worldwide rights for the development and commercialization of TRU-016, and Abbott will be obligated to provide certain forms of transition assistance to Emergent for a certain period of time. Emergent does not expect that termination of the Abbott agreement will have a material impact on its planned R&D expenditures for 2012.
In a separate release issued today, Emergent announced the initiation of patient dosing in the Phase 2 study (protocol 16201) of TRU-016 in combination with bendamustine for patients with relapsed CLL. The initiation of this clinical trial triggered a $6 million milestone payment to Emergent by Abbott. The Phase 2 portion of this study was initiated under the collaboration agreement following achievement of the Phase 1b study objectives and authorization for the commencement of the Phase 2 study by an independent data monitoring committee.
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