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Prometheus Obtains Exclusive US Commercialization Rights for RENCAREX®
Date:5/2/2011

SAN DIEGO, May 2, 2011 /PRNewswire/ -- Prometheus Laboratories Inc., a specialty pharmaceutical and diagnostic company, today announced that it has signed an exclusive agreement with WILEX AG for commercialization rights in the United States for RENCAREX® (girentuximab).  RENCAREX® is a Phase III product candidate for adjuvant use in non-metastatic clear-cell renal cell cancer (ccRCC).

Under the terms of the agreement, WILEX will receive $19.0 million upfront payments and development fees plus milestone payments and royalties on U.S. net sales of RENCAREX®.  In addition, Prometheus will co-fund a portion of the ongoing development of RENCAREX®. The deal terms also include an agreement whereby WILEX may be granted commercialization rights outside of the United States, including but not limited to Europe, to one of Prometheus' marketed products or receive additional cash payments of up to $20 million.

Professor Olaf G. Wilhelm, Chief Executive Officer of WILEX, commented, "This is the deal we have been looking for, not only in financial, but also in commercial and strategic terms. We are very excited about WILEX'S new partnership with Prometheus since Prometheus has a proven track record in commercializing pharmaceutical and diagnostic products."

"We are very pleased to enter into this partnership with WILEX as we continue to build our oncology franchise," said Joseph M. Limber, President and Chief Executive Officer of Prometheus. "RENCAREX® is a great strategic fit with our current oncology portfolio in renal cell carcinoma. There is no product currently approved in the United States for patients who could have recurrence of ccRCC after a kidney resection.  We look forward to working with WILEX to complete the development process and commercialize RENCAREX® in the United States."

About RENCAREX®

RENCAREX® (girentuximab) is a highly specific chimeric monoclonal antibo
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SOURCE Prometheus Laboratories Inc.
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