Finance

License fees received for Xolair and Raptiva antibody products

Published in Cancer Weekly, February 24th, 2004

Protein Design Labs, Inc., (PDL) has received payments in excess of $2 million related to the exercise of licenses under PDL's antibody humanization patents for Genentech's Xolair and Raptiva antibody products.

As provided under the patent licensing master agreement between the companies, Genentech and PDL each may obtain non-exclusive licenses under certain of the other company's patents or applications subject to certain conditions including payment of a license fee of up to approximately $1 million per antibody.

Mark McDade, chief executive officer, PDL, said, "The two new Genentech licenses increases to six the number of marketed humanized...

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Source: Cancer Weekly (2004-02-24)

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