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PDLI » Topics » PDL BioPharma Announces New Licensing Agreement with Eli Lilly

This excerpt taken from the PDLI 8-K filed Dec 22, 2009.

PDL BioPharma Announces New Licensing Agreement with Eli Lilly

INCLINE VILLAGE, NV, December 21, 2009 – PDL BioPharma, Inc. (NASDAQ:PDLI) today announced that it has entered into a non-exclusive license agreement with Eli Lilly and Company (NYSE:LLY) under PDL’s Queen et al patents with respect to teplizumab, a humanized anti-CD3 monoclonal antibody, as well as other potential next generation anti-CD3 molecules. Teplizumab is currently being studied by Lilly and its partner MacroGenics for the treatment of individuals with newly-diagnosed type 1 diabetes mellitus. No other details of the licensing agreement were made available.

Lilly currently holds a license to the Queen et al patents with respect to solanezumab, its humanized antibody to beta amyloid which is currently being studied to delay the progression of Alzheimer’s disease.

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