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PRO 140

CytoDyn, Inc.

Drug Names(s): PRO 140

Description: PRO 140 is a humanized monoclonal antibody against CCR5 that blocks human immunodeficiency virus (HIV) infection. CCR5 is one of the principal portals used by HIV to enter cells and represents a promising target for a new generation of HIV therapies. PRO 140 inhibits viral entry into immune system cells via a novel mechanism of action, has the potential to protect healthy cells, and to be broadly active against viruses that have acquired resistance to existing classes of antiretroviral therapies.

Deal Structure: PDL and Progenics
In May 1999, Protein Design Labs (PDL) and Progenics announced an agreement for the humanization by PDL of PRO 140. The agreement provides that Progenics will pay PDL a licensing and signing fee, will make additional payments upon the achievement of certain milestones, and will pay royalties upon sales of the antibody, if any. The financial terms were not disclosed.

Progenics and CytoDyn
In July 2012, CytoDyn and Progenics entered into an asset purchase agreement, effective as of July 25, 2012, pursuant to which CytoDyn intends to acquire from Progenics its proprietary humanized monoclonal antibody HIV viral-entry inhibitor drug candidate, PRO 140. The terms of the Agreement provide for an initial payment by the Company to Progenics in the amount of $3.5 million and subsequent milestone payments conditioned on successful continued clinical development of PRO 140 and a royalty payment to Progenics based on net sales upon commercialization...See full deal structure in Biomedtracker

Partners: PDL BioPharma, Inc. Progenics Pharmaceuticals, Inc.

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