SAN DIEGO, May 2, 2011 /PRNewswire/ — Prometheus Laboratories
Inc., a specialty pharmaceutical and diagnostic company, today
announced that it has signed an exclusive agreement with WILEX AG
for commercialization rights in the United States for RENCAREX®
(girentuximab). RENCAREX® is a Phase III product
candidate for adjuvant use in non-metastatic clear-cell renal cell
cancer (ccRCC).
Under the terms of the agreement, WILEX will receive $19.0
million upfront payments and development fees plus milestone
payments and royalties on U.S. net sales of RENCAREX®. In
addition, Prometheus will co-fund a portion of the ongoing
development of RENCAREX®. The deal terms also include an
agreement whereby WILEX may be granted commercialization rights
outside of the United States, including but not limited to Europe,
to one of Prometheus’ marketed products or receive additional cash
payments of up to $20 million.
Professor Olaf G. Wilhelm, Chief Executive Officer of WILEX,
commented, “This is the deal we have been looking for, not only in
financial, but also in commercial and strategic terms. We are very
excited about WILEX’S new partnership with Prometheus since
Prometheus has a proven track record in commercializing
pharmaceutical and diagnostic products.”
“We are very pleased to enter into this partnership with WILEX
as we continue to build our oncology franchise,” said Joseph M.
Limber, President and Chief Executive Officer of Prometheus.
“RENCAREX® is a great strategic fit with our current oncology
portfolio in renal cell carcinoma. There is no product currently
approved in the United States for patients who could have
recurrence of ccRCC after a kidney resection. We look forward
to working with WILEX to complete the development process and
commercialize RENCAREX® in the United States.”
About RENCAREX®
RENCAREX® (girentuximab) is a highly specific chimeric
monoclonal antibo
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