Celltech and UCB Reach Worldwide Agreement on Development and Marketing of CDP870
SLOUGH, U.K., May 18, 2004 (PRIMEZONE) -- Celltech Group plc (LSE:CCH)(NYSE:CLL) announces that it has entered into an agreement with UCB S.A. for the worldwide development and marketing of CDP870, Celltech's anti-TNF-alpha PEGylated antibody fragment.
Under the terms of the agreement, Celltech grants UCB co-exclusive worldwide rights to develop and commercialise CDP870. The licence is exclusive for rheumatoid arthritis and other indications, excluding Crohn's disease. UCB will be responsible for the conduct of future clinical studies and all commercialisation activities with CDP870 other than in Crohn's disease, and will pay Celltech a significant royalty on sales in these indications. UCB will also make progress-related payments to Celltech dependent upon attaining certain project related milestones. Celltech retains manufacturing rights and will supply all CDP870 material for commercialisation, and will discharge all royalties due to third parties. Celltech retains exclusive rights for the development and commercialisation of CDP870 in Crohn's disease in North America, major European markets, Australia and New Zealand, with UCB having development and commercialisation rights in other territories.
As detailed in a separate announcement today, the boards of UCB and Celltech have agreed to the terms of a recommended cash offer for the entire issued and to be issued share capital of Celltech. The CDP870 licence agreement is not conditional upon the proposed Acquisition of Celltech by UCB.
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