FREMONT, Calif., March 29 /PRNewswire-FirstCall/ -- At a special meeting
held today, stockholders of Abgenix, Inc. (Nasdaq: ABGX) overwhelmingly
approved the acquisition of Abgenix by Amgen. Approximately 71 percent of the
outstanding shares of Abgenix common stock were voted in favor of the
transaction. This represents more than 99 percent of the shares that were
voted at the meeting.
On December 14, 2005, Abgenix and Amgen announced they had entered into an
agreement for Amgen to acquire Abgenix for $22.50 per share of Abgenix Common
Stock plus the assumption of Abgenix debt. Consummation of the merger is
subject to other customary closing conditions and is expected to be completed
on April 1, 2006.
About Abgenix
Abgenix is a biopharmaceutical company focused on the discovery,
development and manufacturing of fully human therapeutic antibodies. The
company's antibody development platform includes a leading technology and
state-of-the-art manufacturing capabilities that enable the rapid generation,
selection and production of high affinity, fully human antibody product
candidates to a variety of disease targets. Abgenix leverages its leadership
position in human antibody technology to build a diversified product portfolio
through its own development efforts and the establishment of collaborations
with multiple pharmaceutical and biotechnology companies. For more information
on Abgenix, visit the company's website at http://www.abgenix.com.
Abgenix Forward-Looking Statement
Statements made in this press release about Abgenix's technologies,
product development activities, collaborative arrangements and the proposed
merger with Amgen, 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. For
example, statements regarding the expected timing of the closing of the merger
are forward-looking statements. Factors that could cause actual results to
differ materially from those contemplated above include, among others, the
risks associated with the timing and success of clinical trials, the progress
of research and product development programs, product manufacturing,
consummating the merger with Amgen, timing and outcomes of regulatory approval
processes, competitive products and services, litigation and the extent and
breadth of Abgenix's patent portfolio. Please see Abgenix's public filings
with the Securities and Exchange Commission (SEC) for information about risks
that may affect Abgenix, including its Form 10-K for the year ended December
31, 2005, and periodic reports on Form 10-Q and Form 8-K.
SOURCE Abgenix
 back to top
Related links:
http://www.abgenix.com
CONTACT:
Greg Mann, Director, Corporate Communications
and Investor Relations of Abgenix, +1-510-284-6566, or
greg.mann@abgenix.com
|
