Acquisition by Prometheus Laboratories
Our attorneys represented Novartis Vaccines and Diagnostics, Inc. in an agreement with Prometheus Laboratories Inc. for the acquisition by Prometheus Laboratories of exclusive rights to distribute, promote and sell Proleukin® (aldesleukin) in the United States. Proleukin is a recombinant human interleukin-2 for treatment in adults with metastatic melanoma and metastatic kidney cancer. Under the terms of the agreement, Novartis received an upfront fee and will receive royalties on net sales of Proleukin in the U.S. Novartis is also eligible to receive potential sales milestone payments. The companies will have an option to amend the agreement to include the rest of the world upon the completion of certain conditions.