By Christopher P. Singer --
In a February 5, 2007 press release Regeneron
Pharmaceuticals, Inc. announced that it has entered into a non-exclusive
license agreement with AstraZeneca involving Regeneron's VelocImmune®
antibody technology. The license
includes an upfront $20 million payment to Regeneron in addition to as many as
five additional annual payments of $20 million, subject to AstraZeneca's
termination option after making the first three payments. Should a commercial product as a result of
AstraZeneca's use of VelocImmune®, Regeneron will receive a mid-single digit
royalty payment.
VelocImmune® is an aspect of Regeneron's technology
that focuses on the development and discovery of fully human antibodies. The technology allows for the rapid
generation of fully human antibodies through the immune response of the
VelocImmune® mouse, which has a response nearly identical to the response
of a wild type mouse. More specific
information about VelocImmune® can be found at this link. AstraZeneca
will utilize the VelocImmune® technology at Cambridge Antibody Technology
(UK) in an effort to build its presence in the biopharmaceutical market.
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