Licensing Agreement Focuses on Antibody Research and Development
SEATTLE and OKLAHOMA CITY, July 5 /PRNewswire/ -- In a move to develop
monoclonal antibodies directed against prostate cancer,
Immunex Corporation (Nasdaq: IMNX) has licensed rights to cancer-derived
antigens from UroCor, Inc. (Nasdaq: UCOR).
"UroCor has identified and patented cell surface proteins that are
potential targets for development of therapeutic monoclonal antibodies," said
Doug Williams, Ph.D., executive vice president and chief technology officer at
Immunex. "This licensing agreement allows us the opportunity to expand our
research efforts in the fight against prostate cancer and to supplement our
existing research programs to find novel, validated targets for antibody
development."
UroCor has developed a proprietary library of genes expressed in
neoplastic or pre-cancerous prostate cells.
"Our experience in urology has allowed us to assemble a sizable research
library of genes which we believe may be invaluable in the fight against
prostate cancer," said Michael W. George, president and chief executive
officer of UroCor. "Immunex will be an excellent partner in attempting to
transfer this research into the clinic."
Immunex will pay UroCor an initial license fee, in addition to future
milestone and royalty payments contingent upon successful development efforts.
Additionally, Immunex will be responsible for all research and development,
and potential commercialization of any approved therapeutic antibodies against
licensed UroCor target antigens.
About Prostate Cancer
Prostate cancer is the second leading cause of cancer death in men,
exceeded only by lung cancer.
The American Cancer Society estimates during 2000 approximately
180,400 new cases of prostate cancer will be diagnosed in the United States.
The American Cancer Society estimates 31,900 men in the United States will
die of this disease during 2000. Prostate cancer accounts for about 11% of
male cancer-related deaths.
Immunex Corporation is a biopharmaceutical company dedicated to improving
lives through immune system science innovations.
UroCor markets a comprehensive range of integrated products and services
to assist in detecting, diagnosing, treating and managing prostate cancer,
bladder cancer, kidney stones and other complex urologic disorders directly to
urologists and managed care organizations. The Company's primary focus is
helping urologists improve patient care and outcomes while reducing the total
cost of managing these diseases. The Company presently serves approximately
one-third of the office-based urologists in the United States, several through
its Internet-based reporting system.
American Home Products Corporation owns a majority interest in Immunex.
AHP is one of the world's largest research-based pharmaceutical and health
care products companies. It is a leader in the discovery, development,
manufacturing and marketing of prescription drugs, including biotechnological
and vaccine products, animal health care products and over-the-counter
medications.
This release contains forward-looking statements that involve risks and
uncertainties, including risks associated with clinical development,
regulatory approvals, product commercialization and other risks described from
time to time in the SEC reports filed by Immunex, including the most recently
filed Form 10-Q and Form 10-K. For more information, please refer to
http://www.immunex.com.
SOURCE Immunex Corporation
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http://www.immunex.com
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CONTACT:
Karl Nigg, Sr. Vice President & General
Manager, Therapeutics, 405-290-4000, or Peggy Howard, or Roger
Morris, 405-290-4000, all of UroCor, Inc.; or media, Kris Greco,
206-470-4871, or investors, Mark Leahy, 206-389- 4363, both of
Immunex Corporation
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