T CELL SCIENCES AND AB ASTRA SIGN AGREEMENT TO DEVELOP THERAPEUTIC PRODUCTS
T CELL SCIENCES AND AB ASTRA SIGN AGREEMENT
TO DEVELOP THERAPEUTIC PRODUCTS
CAMBRIDGE, Mass., Jan. 30 /PRNewswire/ -- T Cell Sciences, Inc. (NASDAQ: TCEL), today announced the signing of a product development and distribution agreement with AB Astra covering products resulting from T Cell Sciences' proprietary T cell antigen receptor (TCAR) technology.
Revenues from Astra to T Cell Sciences, pursuant to milestones, may approximate $15 million over the next 30 months, with over $1.5 million in revenues from Astra to be recorded by T Cell Sciences through the third quarter of fiscal 1992. Further investment by Astra over the following several years, pursuant to options, could amount to an additional $17 million, plus a commitment either to fund or perform one- half of any additional development of jointly developed agents.
T Cell Sciences has retained exclusive marketing rights in North America for rheumatoid arthritis products utilizing TCAR technology. Astra has exclusive worldwide marketing rights to all products derived from the TCAR technology with the exception of rheumatoid arthritis products in North America. T Cell Sciences has retained the exclusive worldwide right to manufacture all products and, for sales of products to Astra, T Cell Sciences will receive a transfer price based on a percentage of Astra's net sales to its customers.
Astra is a $2 billion worldwide pharmaceutical company headquartered in Sodertalje, Sweden.
The agents to be developed exclusively and jointly with Astra are monoclonal antibodies and protein-derived immunomodulators, called Monogen(TM) and Peptigen(TM) agents, respectively, that may have efficacy in treating autoimmune diseases such as rheumatoid arthritis, multiple sclerosis, Crohn's disease and sarcoidosis, and T cell cancers. Peptigen agents are recombinantly produced proteins identical to certain T cell antigen receptor regions on select subgroups of T cells. T Cell Sciences' and Astra's goal is to develop these Monogen and Peptigen agents into products which will be used to down-regulate specific T cell subgroups implicated as causal agents in autoimmune diseases.
The initial phase of the program will encompass the preclinical development, already under way at T Cell Sciences, and preliminary clinical development of four specific agents, three Monogen agents and one Peptigen agent, for treating autoimmune diseases and T cell cancers. If the preliminary data on the safety and efficacy in humans of the initially developed products are satisfactory, Astra can initiate the second phase of the program, encompassing additional clinical development of the initial agents and development of other TCAR therapeutic products.
Located in Cambridge, T Cell Sciences, Inc. is utilizing proprietary T cell receptor and soluble receptor technology to develop pharmaceutical products to treat heart disease, inflammatory diseases, autoimmune diseases and cancer. T Cell Diagnostics, Inc., a subsidiary of T Cell Sciences, develops, manufactures and markets products for monitoring immune system disorders.
/CONTACT: James D. Grant, chairman and CEO, or Susan Primrose of T Cell Sciences, 617-621-1400, or Fredric Spar of Kekst & Company, 212-593-2655, for T Cell Sciences/
(TCEL) CO: T Cell Sciences Inc.; AB Astra ST: Massachusetts IN: MTC SU: SM-CK -- NY073 -- 5283 01/30/92 13:24 EST