PDL BioPharma enters into non-exclusive license agreement with Eli Lilly

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Dec 22 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.

SOURCE PDL BioPharma, Inc.

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