Caprion Pharmaceuticals Enters Into Oncology Target Licensing Agreement with Centocor Research and Development, Inc.
Montreal, Canada - October 11, 2006 - Privately held Caprion Pharmaceuticals Inc. today announced that is has entered into an agreement with Centocor Research and Development, Inc., under which Caprion will provide a number of protein targets for the development of monoclonal antibody and other potential therapeutic products for the treatment of several cancer indications.
Caprion will contribute a selection of promising cancer targets discovered using its proprietary CellCarta® proteomics technology platform in its cancer discovery programs. Centocor will have exclusive, worldwide rights to develop and commercialize therapeutics against any target it selects.
The financial terms of the agreement include an up-front payment, license fees, milestone payments relating to the development of products by Centocor, and royalties on commercial sales of such products. Specific financial terms were not disclosed.
"We are pleased to add Centocor to our partners in the area of oncology antibody targets," stated Martin LeBlanc, Caprion's Chief Operating Officer. "This collaboration further strengthens Caprion's leadership position in the area of proteomics-based drug discovery and leverages the novel targets that our proteomics platform has generated into development programs that may rapidly reach the clinic."
About Caprion Pharmaceuticals Inc.
Caprion Pharmaceuticals Inc. is a clinical-stage biotechnology company developing pharmaceutical products in the areas of infectious disease and oncology. The Company's clinical-stage programs include Shigamabs®, a product for the treatment of Shigatoxin-producing bacterial infections, and CAP-232, a targeted therapy with potential efficacy in multiple oncology indications. CellCarta®, Caprion's proprietary proteomics technology, provides Caprion with an effective means to identify novel drug targets, predict which therapeutics may be safer and more efficacious, and identify which patients may benefit most from a particular therapy.
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