Program Utilizes Seattle Genetics' ADC technology
FREMONT, Calif., June 22 /PRNewswire-FirstCall/ -- Protein Design Labs,
Inc. (PDL) (Nasdaq: PDLI) today reported that it has sublicensed to Genentech,
Inc. (NYSE: DNA) development and commercialization rights for antibody-drug
conjugates directed against the PR1 antigen, which is frequently
differentially expressed in prostate cancer. PDL will receive an upfront
licensing fee, and is entitled to receive milestone payments and royalties on
future sales under certain conditions.
PDL's broad collaboration agreement with Seattle Genetics, Inc.
(Nasdaq: SGEN) provides PDL with rights to develop antibody-drug conjugates
(ADCs) to certain targets, including PR1. An antibody directed against the
PR1 antigen could lack the ability to kill cancer cells without an attached
cell-killing agent such as the potent auristatin derivatives utilized in
Seattle Genetics' ADC technology. By linking a drug to an antibody that
targets PR1, it may be possible to identify new antibody-drug conjugate
products to selectively kill prostate cancer cells while killing a lesser
proportion of non-prostate cancer cells. Research related to the preclinical
validation of a PR1 ADC, anti-TMEFF2 monomethyl auristatin E-conjugated
antibodies in the treatment of prostate cancer was published in the August
2004 edition of Molecular Cancer Therapeutics.
Mark McDade, Chief Executive Officer, PDL, said, "We are pleased to
partner our PR1 program with Genentech, an acknowledged leader in
bio-oncology. Given PDL's existing resources and our desire to bring focus to
our clinical development programs, out licensing this program is the most
efficient way to continue its development."
"This sublicense from PDL further expands our ongoing ADC collaboration
with Genentech," commented Clay B. Siegall, Ph.D., President and Chief
Executive Officer of Seattle Genetics. "We are excited by their continued
interest in the technology for the potential treatment of cancer."
About Antibody Drug Conjugate Technology
Seattle Genetics' second-generation ADC technology utilizes the targeting
ability of monoclonal antibodies to deliver potent, cell-killing payloads to
specific cells. This ADC technology employs synthetic, highly potent drugs
that can be attached to antibodies through proprietary linker systems. The
linkers are designed to be stable in the bloodstream but to release the drug
payload under specific conditions once inside target cells, potentially
sparing non-target cells many of the toxic effects of traditional
chemotherapy. ADCs can increase the therapeutic potential of the many
antibodies that possess targeting ability but no inherent cell-killing
activity.
About Prostate Cancer
Prostate cancer is the second leading cause of cancer death in the United
States, second only to lung cancer. The American Cancer Society estimates
that there will be approximately 232,000 new cases of prostate cancer in 2005,
and over 30,000 deaths. The specific cause of prostate cancer has not yet
been determined; however, certain risk factors including age, race,
nationality, diet and family history have been associated with higher
incidences. Currently, prostate cancer is detected by testing the amount of
prostate-specific antigen (PSA) in the blood, or through a digital rectal
exam. Current treatment consists of surgery and chemotherapy or radiation
treatment, though new treatments are needed.
About Protein Design Labs
Protein Design Labs is a fully-integrated biopharmaceutical company
focused on the development and commercialization of novel therapies for
treatment of inflammation and autoimmune diseases, acute cardiac conditions
and cancer. As a leader in the development of humanized antibodies, PDL has
licensed its patents to numerous pharmaceutical and biotechnology companies,
some of which are now paying royalties on net sales of licensed products.
PDL markets several biopharmaceutical products in the United States through
its wholly-owned subsidiary, ESP Pharma, Inc. Further information on PDL is
available at http://www.pdl.com or by contacting James R. Goff, Senior Director, PDL
Investor Relations, (510) 574-1421 or jgoff@pdl.com.
The foregoing contains forward-looking statements involving risks and
uncertainties and PDL's actual results may differ materially from those in the
forward-looking statements. In particular, there can be no assurance that the
PR1-Auristatin program will prove safe and effective in the treatment of
prostate cancer or that PDL will receive related milestone and royalty
payments. Other factors that may cause such differences are discussed in the
Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2005,
and other filings made with the Securities and Exchange Commission.
NOTE: Protein Design Labs and the PDL logo are registered U.S. trademarks
of Protein Design Labs, Inc.
SOURCE Protein Design Labs, Inc.
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Related links:
http://www.pdl.com
CONTACT:
James R. Goff, Senior Director, Investor
Relations of Protein Design Labs, +1-510-574-1421, or
jgoff@pdl.com
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