CSL Limited, with U.S. operations in King of Prussia, to license for $50 million and develop proteins for autoimmune diseases

Australia-based CSL Limited, whose biotherapeutics division CSL Behring is in King of Prussia, has agreed to license for $50 million recombinant proteins from  Cambridge, Mass. biotech company Momenta Pharmaceuticals to treat autoimmune diseases. The companies, which expect antitrust clearance by March 31, have not identified the target diseases. CSL could potentially pay Momenta up to $550 million in future milestone payments to develop and commercialize the proteins. The first compound, M230, is expected to be in clinical trials this year.