MedImmune Strikes Licensing Pact

MedImmune

(MEDI)

licensed the worldwide rights from

GlaxoSmithKline

(GSK) - Get Report

to develop antistaphylococcal monoclonal antibodies, in exchange for an upfront payment and possible milestone fees and future royalties.

The British drug giant's portfolio includes BSYX-A110, which is being studied for preventing serious bloodstream infections in low-birth-weight infants. MedImmune has also taken over future milestone and royalty payments to Biosynexus, from whom Glaxo originally licensed the BSYX-A110 antibody.

"Adding BSYX-A110 into the pipeline provides an opportunity for us to leverage MedImmune's clinical, regulatory and commercial experience in the development of monoclonal antibodies in pediatrics," the company said in a press release.

Shares of MedImmune, based in Gaithersburg, Md., were up 42 cents to $27.21. Glaxo was slipping 7 cents to $47.37.