MedImmune to use Elusys Therapeutics' technology to develop infectious disease therapies

By Elaine Rigoli

Tampa, Fla., April 20 - MedImmune, Inc. said it has entered into an exclusive licensing and collaboration agreement with privately held biopharmaceutical company Elusys Therapeutics, Inc. for select infectious disease targets.

Under the terms of the agreement, Elusys will receive an undisclosed upfront payment, milestone payments and royalties on any future marketed products, according to a news release.

MedImmune Ventures, Inc., a wholly owned venture capital subsidiary of MedImmune, will also make an equity investment in Elusys, the release said.

Under the agreement, MedImmune said it will develop and seek to commercialize new therapies targeting infectious disease by combining its experience in monoclonal antibodies with Elusys' proprietary heteropolymer antibodies.

MedImmune is based in Gaithersburg, Md., and is focused on the areas of infectious diseases, cancer and inflammatory diseases.

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