Nycomed adds veltuzumab to product pipeline

Nycomed has announced the addition of veltuzumab to is research and development pipeline as a treatment for autoimmune diseases.

The company has signed a licensing agreement with Immunomedics for the worldwide rights to the compound for subcutaneous application and non-oncology indications.

It said the compound is the first subcutaneous anti-CD20 to be tested in clinical trials and its addition makes a significant improvement to its autoimmune and inflammation product pipeline.

Nycomed said it would develop the compound with rheumatoid arthritis as its primary indication, while the agreement also covers an option to co-promote the drug for the idiopathic thrombocytopenic purpura.

Hakan Bjorklund, chief executive officer at Nycomed, said: “This alliance with Immunomedics is a significant step for Nycomed to extend its network with leading biopharmaceutical companies.

“Nycomed strengthens its clinical pipeline and veltuzumab offers an excellent strategic fit with Nycomed?’s other programs in the field of autoimmune and inflammatory diseases.”

He added that veltuzumab differentiates itself form other products in the growing market of anti-CD20s in the autoimmune area offering significant medical benefits to patients as a result of its subcutaneous delivery.

In January 2007, Nycomed announced the launch of the merged Nycomed group following the acquisition of Altana Pharma, with the firm appointing an executive committee and country managers.