Antisoma royalty boost from Abbott

CANCER research group Antisoma has amended its licensing agreement with US-owned Abbott Laboratories for its treatment for ovarian and gastric cancer, and will now get enhanced royalties with milestone payments linked to sales targets.

Chief executive Glyn Edwards said that he had great confidence in its pemtumomab treatment and that the new agreement 'allows us to take greater control over its development and maximise our share of any future profits'.

The previous agreement with Abbott, signed in October 1999, had fixed royalties on a rising scale. The new deal will release more cash for Antisoma, though it will have to meet Abbott's share of development costs over the next three years.

Cash-strapped Antisoma is still seeking partnership agreements with other drug companies to secure funding to take forward its broad portfolio of cancer treatments. It is also conducting talks on possible new outlicensing agreements. Antisoma shares rose by 3p to 38 1/2p.