PDL BioPharma, Inc. (Nasdaq: PDLI) today announced that it has entered into a non-exclusive license agreement with Eli Lilly and Company (NYSE: LLY) under PDL's Queen et al patents with respect to teplizumab, a humanized anti-CD3 monoclonal antibody, as well as other potential next generation anti-CD3 molecules. Teplizumab is currently being studied by Lilly and its partner MacroGenics for the treatment of individuals with newly-diagnosed type 1 diabetes mellitus. No other details of the licensing agreement were made available.
Lilly currently holds a license to the Queen et al patents with respect to solanezumab, its humanized antibody to beta amyloid which is currently being studied to delay the progression of Alzheimer's disease.
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