SmithKline Becomes Nineteenth XenoMouse Partner
FREMONT, Calif., May 19 /PRNewswire/ -- Abgenix, Inc. (Nasdaq: ABGX)
signed a collaboration agreement with SmithKline Beecham (SB) under which SB
will use Abgenix's XenoMouse(TM) technology to generate fully human monoclonal
antibodies to an undisclosed target. In return, Abgenix will receive a
research license payment and could receive additional fees and milestone
payments plus royalties on future product sales by SB. SB will be responsible
for products developed through the collaboration.
"Abgenix is pleased to be collaborating with SB, one of the world's
leading pharmaceutical companies," said R. Scott Greer, chairman, president
and chief executive officer of Abgenix. "Acceptance of our XenoMouse human
antibody technology continues to spread among pharmaceutical and biotechnology
companies."
Abgenix is a biopharmaceutical company that develops and intends to
commercialize antibody therapies for the treatment of such conditions as
transplant-related diseases, inflammatory and autoimmune disorders,
cardiovascular disease, infectious diseases, and cancer. For more information
on Abgenix, visit the company's Web site at http://www.abgenix.com.
Abgenix developed XenoMouse technology to enable the rapid generation of
high affinity, fully human antibody product candidates to essentially any
disease target appropriate for antibody therapy. Abgenix has collaborative
arrangements with multiple pharmaceutical, genomics and biotechnology
companies involving its XenoMouse technology. In addition, Abgenix has
multiple proprietary antibody product candidates under development internally,
three of which are in human clinical trials for graft-versus-host disease,
psoriasis, rheumatoid arthritis, and cancer.
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.
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CONTACT:
Kurt Leutzinger, Chief Financial Officer of
Abgenix, Inc., 510-608-6575
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