Abgenix to Receive Payments for Conducting Clinical Trials
FREMONT, Calif., June 30 /PRNewswire/ -- Abgenix, Inc. (Nasdaq: ABGX)
announced today a collaboration with Japan Tobacco Inc. ("Japan Tobacco") on
ABX-IL8. Under the agreement, Japan Tobacco will make certain payments to
Abgenix and, subject to additional payments, could potentially receive the
right to use clinical data generated by Abgenix in its own regulatory filings
in Japan, Taiwan and Korea.
ABX-IL8 is a fully human antibody generated by Abgenix using the
proprietary XenoMouse technology. Abgenix completed a Phase I trial of ABX-IL8
in 33 patients with moderate to severe psoriasis last year and recently
completed enrollment of a PhaseI/II multi-dose trial with 42 psoriasis
patients. ABX-IL8 is also being tested in a pilot study with rheumatoid
arthritis patients.
"Our collaboration with Japan Tobacco on ABX-IL8 is a win-win opportunity
for both companies," stated R. Scott Greer, president and chief executive
officer of Abgenix. "We will receive payments for clinical trials that we were
undertaking ourselves in exchange for giving Japan Tobacco the potential to
use data generated in the marketing territory where they have exclusive rights
to IL-8 antibodies."
ABX-IL8 is being studied in psoriasis because of its potential to
intervene at multiple steps in the disease pathology by blocking Interleukin-8
("IL-8"). Scientific studies have shown that IL-8 levels can be elevated
150 fold in psoriatic tissue when compared to normal tissue. IL-8 is a
cytokine that can cause unwanted inflammation by drawing immune cells into
psoriatic tissue and activating them. IL-8 is also a growth factor for skin
cells that are proliferating in psoriatic tissue. Finally, IL-8 is a potent
angiogenesis factor so it may be contributing to the ingrowth of blood vessels
that nourish psoriatic tissue.
Psoriasis is a chronic disease that results in plaques, a thickening and
scaling of the skin accompanied by local inflammation. The disease affects
approximately four to five million patients in the United States and can be
debilitating in its most severe form. Approximately 500,000 psoriasis patients
suffer from a severe enough form of the disease to require systematic therapy
with immune suppressants and ultraviolet phototherapy. The risk of serious
adverse side effects associated with these therapies often requires the
patients to alternate these various therapeutic modalities as a precautionary
measure.
Abgenix is a biopharmaceutical company that develops and intends to
commercialize antibody therapeutic products for the treatment of a variety of
disease conditions, including transplant-related diseases, inflammatory and
autoimmune disorders, cardiovascular disease and cancer. Abgenix has developed
XenoMouse technology, which it believes enables quick 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 and biotechnology companies
involving its XenoMouse technology. In addition, Abgenix has four proprietary
antibody product candidates that are under development internally, two of
which are in human clinical trials.
Statements made in this press release about the ABX-IL8 clinical
collaboration, the potential of ABX-IL8 as a treatment for psoriasis,
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 which may
affect Abgenix.
SOURCE Abgenix, Inc.
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Related links:
http://www.abgenix.com
CONTACT:
investors, Amy B. Giller, 415-677-4455, ext.
206, or media, Amy Flood, 415-677-4455, ext. 211, both of
Noonan/Russo Communications, for Abgenix, Inc.; or Kurt
Leutzinger, Vice President and Chief Financial Officer of
Abgenix, Inc., 510-608-6575
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