PDL BioPharma Acquires Royalty Interest in CerdelgaBy
PDL BioPharma has acquired a portion of the University of
Under the royalty agreement, PDL will receive 75% of all royalty payments due under U-M’s license agreement with Genzyme until expiration of the licensed patents, excluding any patent-term extension. The royalty rate used to calculate the royalties to be paid by Genzyme to U-M was not disclosed by the parties. In addition to the recent
Cerdelga is a ceramide analog given orally and was designed to partially inhibit the enzyme glucosylceramide synthase, resulting in reduced production of glucosylceramide. Glucosylceramide is the substance that builds up in the cells and tissues of people with Gaucher disease. The concept was initially developed by the late
PDL manages a portfolio of patents and royalty assets, consisting primarily of antibody humanization patents and license agreements with various biotechnology and pharmaceutical companies.
Source: PDL BioPharma