ImmuPharma Regains Lupuzor Rights
ImmuPharma has regained rights to Lupuzor, due to the acquisition of Cephalon by Teva Pharmaceutical Industries Ltd.
ImmuPharma entered into an option agreement with Cephalon in 2008 while in the middle of a Phase 2b study, which ImmuPharma designed, managed and funded. Cephalon paid ImmuPharma $15 million before the results of the Phase 2b study for the exclusive option to enter into the worldwide license.
Following positive results of the ImmuPharma Phase 2b study in early 2009, Cephalon exercised its option by paying $30 million for an exclusive worldwide license. This was part of an agreement worth $500 million in cash milestone payments plus royalties on product sales. Upon completion of the license agreement, Cephalon assumed all responsibilities and costs for the development and commercialization of Lupuzor.
In May 2011, Cephalon agreed to a takeover bid by Teva. The acquisition was finalized on October 14, 2011. Teva has a competing drug candidate for Lupus (laquinimod) and the existence of key provisions of the agreement between ImmuPharma and Cephalon, Immupharma requested the return of the rights for Lupuzor.
Release Date: Oct. 21, 2011