Biotechnology company Xoma Ltd (Berkeley CA) said it signed a development and licensing deal with Les Laboratoires Servier (Neuilly-sur-Seine FRA) potentially worth more than $500 million for an anti-inflammatory drug candidate.
Behcet's uveitis is a condition involving inflammation of the eye. Xoma expects to move the drug candidate into late-stage testing in 2011. Servier will fund development for diabetes and cardiovascular disease indications in exchange for worldwide rights, while Xoma retains an option to reacquire the development and sales rights to the diabetes and cardiovascular uses in the U.S. and Japan by paying an option fee and partial reimbursement of development expenses.
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|Date:||Jan 10, 2011|
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