Fully Human Antibodies to be Developed for Knockout-Validated Drug Targets
FREMONT, Calif. and THE WOODLANDS, Texas, July 12 /PRNewswire/ --
Abgenix, Inc. (Nasdaq: ABGX) and Lexicon Genetics Incorporated (Nasdaq: LEXG)
announced today a drug discovery alliance that will combine Lexicon's
understanding of human gene function with the power of Abgenix's fully human
antibody generation.
Under the terms of the agreement, Lexicon will contribute drug targets
that derive from its proprietary portfolio of full-length human genes whose
functions are defined using Lexicon's knockout mouse technology. A joint
committee of Abgenix and Lexicon scientists will select from a pool of
knockout-validated targets for antibody-based drug discovery. Abgenix will
use its proprietary XenoMouse(TM) technology to generate fully human
antibodies for each of the drug targets selected by the committee. The
companies anticipate that dozens of knockout-validated targets will enter
preclinical programs for development into antibody product candidates during
their collaboration. Each company will have the right to obtain exclusive
commercialization rights, including sublicensing rights, for an equal number
of qualifying antibodies. Lexicon and Abgenix will each receive milestone
payments and royalties on sales of antibody drugs from the collaboration that
are commercialized by the other party or a third party sublicensee. Each
company will bear the expense of its own efforts under the collaboration.
"We believe that this new alliance combines two of the most powerful drug
discovery technologies available today to find new therapeutic proteins:
functional genomics and fully human antibody generation," said
Arthur T. Sands, M.D., Ph.D., Lexicon's President and Chief Executive Officer.
"This agreement is a significant component of our drug discovery strategy
through partnerships with leading companies in the field of therapeutic
proteins. With Lexicon and Abgenix working together in the post-genome era,
clearly the mouse is man's new best friend."
"Lexicon has a portfolio of exciting technologies for identifying novel
drug targets," said R. Scott Greer, Chairman and CEO of Abgenix. "We believe
that the marriage of Lexicon's targets with our XenoMouse technology for rapid
generation of fully human monoclonal antibodies could result in the discovery
and commercialization of multiple novel drugs for many diseases."
Lexicon uses its proprietary technologies to rapidly generate and analyze
knockout mice in order to discover knockout-validated genes for pharmaceutical
product development. Currently, hundreds of Lexicon's top priority knockout
mice are being evaluated to identify optimal targets for drug discovery or to
find genes that encode therapeutic proteins, which may themselves be used as
drugs. Families of genes encoding novel receptors, ion channels, proteases,
kinases, and secreted proteins are included as knockouts in Lexicon's drug
discovery programs. Such gene families are thought to be of the highest
potential commercial value since most drugs act through genes in those
categories. Lexicon has developed internal drug discovery programs in the
areas of behavior, neurology, developmental biology, cancer and aging,
immunology and hematology.
Lexicon Genetics Incorporated is a leader in defining the functions of
genes for drug discovery using large-scale knockout mouse technology. Lexicon
has invented high-throughput gene trapping technology to discover thousands of
genes and expand its OmniBank(R) library of tens of thousands of knockout
mouse clones. The Company uses an integrated platform of functional genomic
technologies to accelerate large-scale analysis of mammalian gene function for
drug discovery. Lexicon's Internet exchange, http://www.lexgen.com enables
researchers worldwide to access the OmniBank library and form collaborations
with Lexicon to discover pharmaceutical products based on genes and knowledge
of their functions. Lexicon has established functional genomics and OmniBank
alliances with many pharmaceutical and biotechnology companies including
American Home Products, The R.W. Johnson Pharmaceutical Research Institute,
G.D. Searle & Co., Boehringer Ingelheim Pharmaceuticals, N.V. Organon,
ZymoGenetics/ Novo Nordisk, DuPont Pharmaceuticals and Millennium
Pharmaceuticals, Inc. Additional Company information is available at
http://www.lexicon-genetics.com.
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. 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. For more information on Abgenix, visit the company's
Web site at http://www.abgenix.com.
Statements in this press release about Lexicon that are not strictly
historical are "forward-looking" statements as defined in the Private
Securities Litigation Reform Act of 1995. The actual results may differ
materially from those projected in the forward-looking statements due to the
risks and uncertainties that exist in Lexicon's filings with the Securities
and Exchange Commission, including risks associated with the progress of
research and product development programs, the success of clinical trials,
the regulatory approval process, competitive products, future capital
requirements and the extent and breadth of Lexicon's patent portfolio.
Lexicon disclaims any obligations to update the statements in this press
release.
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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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:
Julia P. Gregory, Executive Vice President &
CFO of Lexicon Genetics Inc., 281-364-0100, or
jgregory@lexgen.com; or Doug MacDougall,
dmacdougall@fkhealth.com, or Kari Lampka, 617-577-8110, both of
Feinstein Kean Healthcare, for Lexicon Genetics Inc.; or Kurt
Leutzinger, Chief Financial Officer of Abgenix, Inc.,
510-608-6575
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