Here is the original mention of the $33 million NR iCo Therapeutics Grants License Option for Bertilimumab (iCo-008) Systemic Uses to Immune Pharmaceuticals for US$33 Million Plus Royalties
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 8, 2010) - iCo Therapeutics Inc. (TSX VENTURE:ICO) (the "Company") today announced that iCo has granted Immune Pharmaceuticals (IMPH), based in Israel and the United States, an option to an exclusive license for the development and commercialization rights to the systemic uses of iCo-008, iCo's human monoclonal antibody targeting eotaxin-1.
Highlights
License Option is for systemic uses including: Inflammatory Bowel Disease and Severe Asthma.
iCo has retained worldwide exclusive rights to all ocular applications.
IMPH will pay iCo a non-refundable option fee creditable upon conversion against an upfront license fee payment of US $1 million.
iCo may receive up to an additional US$32 million in milestone payments as well as royalties on net sales of licensed products.
Non ocular uses of the drug may include asthma and prevalent inflammatory bowel conditions. iCo will retain worldwide exclusive rights to all uses and applications in the ocular field. iCo estimates the market for ocular applications, including age-related macular degeneration and sight-threatening ocular allergies exceeds $2 billion.
"iCo has retained the rights to all ocular indications for iCo-008. Research has shown that iCo-008 interdicts a well-established target involving several potentially devastating and large market ocular diseases, and we look forward to enabling multiple late stage trials in these indications," stated Andrew Rae, President & CEO of iCo Therapeutics. "In addition, iCo remains focused on advancing the company's lead program, iCo-007, into a Phase II trial in Diabetic Macular Edema in early 2011."
Dr. Daniel Teper, CEO of Immune Pharmaceuticals stated, "A close relationship has been established between eotaxin levels and disease activity in patients with severe gastro-intestinal or respiratory conditions. Bertilimumab promises to be a first in class human monoclonal antibody, opening new treatment options in Inflammatory Bowel Disease and Severe Asthma."
Immune Pharmaceuticals plans to prepare Bertilimumab for several Phase II clinical programs in a number of inflammatory conditions, starting with Crohn's Disease.
From: https://www.fiercebiotech.com/biotech/ico-therapeutics-grants-license-option-for-bertilimumab-ico-008-systemic-uses-to-immune
https://www.icotherapeutics.com/newsroom/2010/index.php?content_id=114