Nycomed to pay $40M for Immunomedics drug for all non-cancer indications
Immunomedics and Nycomed have entered into a license and collaboration agreement to develop, manufacture and commercialize veltuzumab, Immunomedics’ humanized anti-CD20 antibody in the subcutaneous formulation, for the treatment of all non-cancer indications.

The Morris Plains, N.J.-based Immunomedics said it will receive a non-refundable initial cash payment of $40 million, subject to applicable Hart-Scott-Rodino Act approval. The company could receive up to $580 million upon completion of certain clinical, regulatory and sales-based milestones. 

The Zurich, Switzerland-based Nycomed said it will develop veltuzumab in rheumatoid arthritis as the primary indication.

The agreement also provides Immunomedics with an option to co-promote veltuzumab for the immune thrombocytopenic purpura, an autoimmune disease, according to the companies.