Termination of Shigamabs deal with LFB Biotech leads Thallion to review options

Canada-based Thallion Pharmaceuticals (TSX VENTURE: TLN) and LFB Biotechnologies of France have terminated their development and licensing agreement related to Thallion's Shigamabs program to develop two monoclonal antibodies against Shiga toxin-producing E. coli (STEC) infections.

Under the companies’ development and commercialization agreement, Thallion granted LFB an exclusive license for the commercial rights to Shigamabs in Europe, South America, and other “territories of strategic interest to LFB,” including Russia, Turkey, China, South Korea, and unspecified Northern African countries. Thallion retained commercial rights for the rest of world, including North America.

All rights to the program will revert to Thallion including all data, materials and know-how developed by and for LFB during the collaboration. LFB will cease to have any rights to the Shigamabs program and all future quarterly payments due to Thallion by LFB in support of Shigamabs development will terminate. LFB will pay for all outstanding and accrued costs related to product manufacturing and Thallion will be responsible for all remaining costs associated with the completion of the SHIGATEC Phase II clinical study.