Millennium (formerly LeukoSite) and Genentech are developing LDP-02, a humanized monoclonal antibody to the alpha4beta7 integrin receptor on leukocytes, for potential use in the treatment of inflammatory bowel diseases (IBD), such as Crohn's disease and ulcerative colitis . LeukoSite intended to develop iv and sc formulations of LDP-02 for acute IBD . In December 1997, Genentech entered into a collaboration with LeukoSite to develop and commercialize LDP-02 for the treatment of IBD , . A phase II SBIR grant was awarded to LeukoSite in September 1996. The US $750,000 grant was used to develop LDP-02 and to conduct preclinical tests on the antibody for the treatment of IBD . In February 1999, Lehman Brothers predicted the drug had a 10% probability of reaching market. Assuming a successful launch, Lehman Brothers analysts estimated peak sales would occur in 2011 with sales at that time of US $250 million .