MedImmune to buy Cellective Therapeutics

Gaithersburg, Maryland-based MedImmune has signed a deal to buy Cellective Therapeutics in an all-cash transaction. MedImmune didn't say how much it was paying for Cellective, but it touted the acquisition of three preclinical stage programs developing monoclonal antibodies that target the B-cell antigens CD19, CD20 and CD22. MedImmune believes these antigens play important roles in regulating the immune system.

"With our mutual focus on antibody research, the acquisition of Cellective is an excellent strategic fit for MedImmune," said James F. Young, Ph.D., president, research and development. "Cellective's lead product candidates, which are based on the extensive work on B cells by renowned immunologist Dr. Thomas F. Tedder of Duke University Medical Center, provide additional opportunities for MedImmune to expand its potential offering of treatments for patients battling cancer and autoimmune diseases."

- read this press release for more