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AbbVie Inc.

Drug Names(s): PDL192, ABT-361

Description: PDL192 is a novel humanized antibody that targets the TWEAK receptor (also known as Fn14 or TNFRSF12A, a cell surface protein with homology to the family of tumor necrosis factor (TNF) receptors), which has been shown to be expressed in a variety of solid tumor types.

Deal Structure: PDL and HGSI
In December 2005, PDL entered into a worldwide licensing agreement with Human Genome Sciences (HGS), under which HGS licensed to PDL certain patent rights which supports the development of PDL192. PDL would be obligated to pay HGS development milestone payments of up to $30 million should PDL192 be developed to commercialization and, should PDL192 ever receive marketing approval, PDL would be obligated to pay HGS royalties on potential future sales of covered antibody therapeutics.

In April 2008, PDL announced that it will separate its antibody humanization royalty assets from its biotechnology operations. The spin-off of its biotechnology operations will be known as Facet Biotech Corporation and will focus on advancing the company's current pipeline of four clinical-stage products.

Following the spin-off of Facet Biotech, PDL will continue to hold rights to the company's antibody humanization patents and will receive royalty revenues from currently...See full deal structure in Biomedtracker

Partners: GlaxoSmithKline plc

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