FREMONT, Calif., Jan. 9 /PRNewswire/ -- Abgenix, Inc. (Nasdaq: ABGX)
announced today that it has extended its research collaboration, option and
license agreement with Amgen, Inc. (Amgen). Under the extended agreement,
Abgenix will use its XenoMouse(TM) technology to generate fully human
monoclonal antibodies to antigen targets supplied by Amgen during the
collaboration's five-year term.
As in the terms of the April 1999 agreement, Abgenix will receive research
payments and could receive milestone and license payments, plus royalties on
any future product sales by Amgen. Amgen will be responsible for product
development, manufacturing, and commercialization of any products developed
through the collaboration.
"We are pleased to expand existing relationships with our customers,"
stated R. Scott Greer, chairman and chief executive officer of Abgenix. "This
commitment by Amgen exemplifies the growing interest for antibody therapeutics
among leading biotechnology companies."
"We are pleased to extend our relationship with Abgenix," said Amgen
executive vice president and head of research, Dennis M. Fenton, Ph.D. "This
extended agreement provides Amgen with access to Abgenix's fully human
monoclonal antibody technology, which is a good strategic fit for our overall
antibody strategy."
Abgenix is a biopharmaceutical company focused on the development and
commercialization of antibody therapies for a variety of diseases. The
company developed XenoMouse(TM) technology to enable the rapid generation of
high affinity, fully human antibody product candidates to essentially any
disease target appropriate for antibody therapy. Abgenix uses its XenoMouse
technology to build a large and diversified product portfolio through the
establishment of licensing arrangements with multiple pharmaceutical,
biotechnology and genomics companies and through the development of its own
internal proprietary products. For more information on Abgenix, visits the
company's website at http://www.abgenix.com.
Statements made in this press release about Abgenix's XenoMouse
technology, product development activities and collaborative arrangements
other than statements of historical fact, are forward looking statements and
are subject to a number of uncertainties that could cause actual results to
differ materially from the statements made, including risks associated with
the success of clinical trials, the progress of research and product
development programs, the regulatory approval process, competitive products,
future capital requirements and the extent and breadth of Abgenix's patent
portfolio. Please see Abgenix's public filings with the Securities and
Exchange Commission for information about risks that may affect Abgenix.
SOURCE Abgenix, Inc.
 back to top
Related links:
http://www.abgenix.com
Company News On-Call:
http://www.prnewswire.com/comp/126548.html or fax,
800-758-5804, ext. 126548
CONTACT:
Ina Cu-Unjieng, Manager, Investor/Public
Relations of Abgenix, Inc., 510-608-4662
|
