LONDON, Nov 28 (Reuters) - British pharmaceutical firm
ImmuPharma said on Thursday it had signed a licensing
and development agreement for Lupuzor, a first-in-class
treatment for auto-immune disease Lupus, with U.S. company Avion
Pharmaceuticals.
Avion and ImmuPharma will co-develop Lupuzor, including a
new Phase III trail, and Avion will commercialize the drug
exclusively in the United States, ImmuPharma said.
The British company said it would receive milestone payments
of up to $70 million, comprising $5 million upon regulatory
approval and up to $65 million based on sales targets.
(Reporting by Paul Sandle; editing by Kate Holton)
Immupharma (IMM)