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Under terms of the agreement, LigoCyte will receive milestone payments onthe successful development of drug candidates. The collaboration includes anopportunity for co-development, co-promotion, and sharing of profits resultingfrom commercialized products.
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"We are very pleased to be entering into this collaboration with BiogenIdec for the development of our lead anti-inflammatory therapy," said DonaldP. Beeman, CEO and chairman of the board for LigoCyte. "This strategicalliance confirms the value of LigoCyte's immunology expertise."
About LigoCyte
LigoCyte Pharmaceuticals, Inc., is a privately held biopharmaceuticalcompany developing vaccines and therapeutic monoclonal antibodies focused onimportant respiratory and gastrointestinal markets. The company is currentlyinvestigating its norovirus vaccine in human clinical studies. For moreinformation on LigoCyte, please visit http://www.ligocyte.com.
SOURCE LigoCyte Pharmaceuticals, Inc.