Mallinckrodt and Palatin sign LeuTech agreement:
This article was originally published in Clinica
Executive Summary
Palatin's first commercial product, LeuTech, will be licensed to Mallinckrodt. Saint Louis, Missouri-based Mallinckrodt will pay Princeton, New Jersey-based Palatin a $500,000 licensing fee and buy 700,000 Palatin shares for a total of $13 million. LeuTech is a radiolabelled monoclonal antibody for diagnosing infections. It is injected into a vein and a gamma camera locates the agglomeration of white cells at the infection site. The initial indication is for equivocal cases of appendicitis.