Takeda returns veltuzumab rights to Immunomedics

10 October 2013

US biopharma company Immunomedics (Nasdaq: IMMU) says it has received notification from Takeda Pharmaceutical (TYO: 4502), Japan’s largest drugmaker, of the termination of the licensing agreement signed between Nycomed (acquired by Takeda in 2011) and Immunomedics for the worldwide rights to veltuzumab, the humanized anti-CD20 antibody, for all non-cancer indications.

The notification was received subsequent to the company’s filing of arbitration proceedings in an effort to resolve the dispute the company has with Nycomed concerning delays in the development of veltuzumab, which Immunomedics argues is a material breach of the licensing agreement.

Immunomedics will continue to seek damages

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