ImClone


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ImClone

A former publicly-traded company specializing in biotechnology, particularly the development of drugs treating cancer. It is known for the insider trading scandal involving its CEO, Sam Waksal, and television personality Martha Stewart. Both served time in federal prison for attempting (Waksal) or conducting (Stewart) insider trading. Since November 2008, ImClone has been a wholly-owned subsidiary of Eli Lilly and Company. Prior to its acquisition, ImClone was traded on NASDAQ.
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A randomized, international phase III trial (IMCL-9815), conducted by ImClone Systems and Merck KGaA, Darmstadt, Germany, which examined the impact of combining ERBITUX with radiation on locoregional control and overall survival in 424 patients with locally or regionally advanced SCCHN.
NEW YORK -- ImClone Systems Incorporated (NASDAQ: IMCL) today issued the following statement regarding the approval by Swissmedic, the Swiss agency for therapeutic products, of ERBITUX(R) (Cetuximab), an IgG1 monoclonal antibody, in combination with radiation in the treatment of patients with previously untreated, advanced squamous cell carcinoma of the head and neck:
ImClone Systems Incorporated is committed to advancing oncology care by developing a portfolio of targeted biologic treatments, designed to address the medical needs of patients with a variety of cancers.
ImClone Systems Incorporated (NASDAQ: IMCL) announced today that its Board of Directors has completed a review of the Company's strategic alternatives and has made the decision to remain independent.
As part of the agreements, ImClone Systems consented to Merck's sublicense of certain intellectual property rights relating to the development and commercialization of an anti-EGFR antibody to Takeda Pharmaceutical Company.
These antibodies are among several targeted therapies in development at ImClone Systems that give us a uniquely valuable pipeline within the industry," stated Eric K.
Data were presented this year from ImClone Systems developed antibodies at all stages of development, ranging from those in the lab to our marketed product, ERBITUX(R)," said Joseph L.
ImClone Systems will have exclusive, worldwide rights to develop and commercialize therapeutics against any target it selects.
The deal, announced last Monday, values ImClone at $70 per share, a premium of 51% to ImClone's closing price on July 30, the day before Bristol made an offer of $60 a share for the 83% of the company it does not already own.
Under terms of the agreement, UCB and ImClone Systems will share equally all agreed upon development costs for CDP-791 as well as worldwide profits derived from its commercialization in indications jointly pursued by the parties.