ImClone, Caprion form licensing agreement for cancer drug targets

By Angela McDaniels

Seattle, Jan. 10 - ImClone Systems Inc. and Caprion Pharmaceuticals Inc. have entered into an agreement under which ImClone Systems may license selected antibody protein targets for the development of therapeutic products to treat cancer and other indications, according to a Caprion news release.

Caprion said it will contribute a selection of cancer targets that it has discovered using its proprietary CellCarta proteomics technology platform.

ImClone Systems will have exclusive, worldwide rights to develop and commercialize therapeutics against any target it selects. For this it will pay an up-front payment, license fees and milestone payments relating to the development of products and royalties on commercial sales of such products.

Specific financial terms were not disclosed.

"We are pleased to include ImClone Systems as Caprion's fifth major alliance partner in the area of oncology antibody targets," Caprion chief operating officer Martin LeBlanc said in the release.

ImClone is a biopharmaceutical company based in New York that develops and commercializes biologic cancer medicines.

Caprion is a privately held drug discovery and development company based in Montreal that uses proprietary proteomics technologies to develop pharmaceutical products for the treatment of cancer and infectious diseases.

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