Neoprobe Corporation (OTCBB: NEOP), a diversified developer of
innovative oncology surgical and diagnostic products, announced today
that it has completed a license amendment with The Dow Chemical Company
(NYSE: DOW) for a variety of antibodies used in its proprietary surgical
oncology system called radioimmunoguided surgery or RIGS®.
The license amendment covers antibodies that target a variety of cancers
including colon, rectal, breast, bladder, ovarian and endometrial. The
antibodies were developed in the research laboratories of the National
Institutes of Health (NIH) and Dow. In addition, Neoprobe and Dow have
agreed that Neoprobe will assume direct responsibility for the licensing
agreements. Dow will be compensated for its contributions when Neoprobe
successfully introduces commercial products.
“The completion of the agreements for the portfolio of antibodies with
both NIH and Dow clarifies the development rights for the RIGS
technology”
“The completion of the agreements for the portfolio of antibodies with
both NIH and Dow clarifies the development rights for the RIGS
technology,” said David Bupp, Neoprobe’s President and CEO. “We
commenced updated cell line development activities for the antibodies
last year and we are pleased with the results to date. Our clinical and
pharmaceutical development teams have been working on the clinical and
regulatory strategies for the program including the recently filed Phase
3 trial design which has been submitted to FDA under the special
protocol assessment provisions,” concluded Mr. Bupp.