NEW YORK, Sept. 17 - Caprion Pharmaceuticals today said it has signed an R&D deal with Idec Pharmaceuticals potentially worth $11 million.
The multi-year deal, which landed Caprion a $4 million equity investment, calls for Idec to use Caprion's CellCarta proteomics platform to identify tumor-specific cell-surface antigen targets. The drug discoverer will then use its monoclonal antibody and radioimmunotherapy technologies to develop therapeutics against those targets, the companies said.
Beside the $4 million equity investment, Caprion, based in Montreal, stands to earn up to $7 million in tech-access fees over the life of the collaboration. Neither company would specify the intended length of the deal. Certain undisclosed milestones will trigger additional payments to Caprion, the partners said.
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