The non-profit La Jolla Institute for Allergy and Immunology said last week that it has licensed to MedImmune the intellectual property rights to a discovery that could serve as the basis for a new biologic treatment for asthma.

If MedImmune can develop and market a drug based on the discovery, it could be a financial boost to the La Jolla Institute, which established a dedicated tech-transfer department in 2007 as part of an institute-wide effort to diversify its revenue sources before funding from sole corporate sponsor, Kirin Pharma USA, dries up in 2010.

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