Bristol-Myers Squibb Company (NYSE: BMY) and PDL BioPharma, Inc. (NASDAQ: PDLI) announced an agreement for the global development and commercialization of PDL BioPharma's anti-CS1 antibody, elotuzumab, previously known as HuLuc63, currently in Phase I development for multiple myeloma.
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These are amazing deal terms for a small biotech to garner from a big pharma.....phase 3 deals terms for a phase 1 compound!!! Unprecedented!!!