First IND Filing to Emerge from a XenoMouse(TM) Technology Collaboration
FREMONT, Calif., Oct. 2 /PRNewswire/ -- Abgenix, Inc. (Nasdaq: ABGX) today
announced the filing of an Investigational New Drug (IND) application to the
FDA by Pfizer for a fully human monoclonal antibody product candidate for the
treatment of cancer, which was generated with Abgenix's XenoMouse(TM)
technology. This milestone triggers an undisclosed payment to Abgenix.
"We are pleased with the progress of our research alliance with Pfizer
which has resulted in the first antibody generated under a XenoMouse
technology collaboration to enter the clinic," said R. Scott Greer, chairman
and CEO of Abgenix. "This becomes the third XenoMouse antibody in human
clinical trials, including two of our own. Through our collaborations and
internal efforts, we believe the XenoMouse platform will continue to provide
new and important antibody therapies for various disease indications."
Abgenix's research alliance with Pfizer began in December 1997 to provide
Pfizer a license to XenoMouse technology for the generation of fully human
antibodies to Pfizer's antigen targets. As part of this arrangement, Pfizer
made an equity investment in Abgenix. The research collaboration has been
expanded several times to include currently up to five antibody product
candidates named by Pfizer. Pfizer will be responsible for product
development, manufacturing and marketing of any products developed through the
collaboration. Abgenix will receive license fees, milestone payments plus
royalties on product sales.
Abgenix is a biopharmaceutical company focused on the development and
commercialization of antibody therapies for a variety of diseases. The
company developed XenoMouse(TM) technology to enable the rapid generation of
high affinity, fully human antibody product candidates to essentially any
disease target appropriate for antibody therapy. Abgenix uses its XenoMouse
technology to build a large and diversified product portfolio through the
establishment of licensing arrangements with multiple pharmaceutical,
biotechnology and genomics companies and through the development of its own
internal proprietary products. For more information on Abgenix, visit the
company's web site at http://www.abgenix.com.
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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http://www.abgenix.com
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CONTACT:
Ina Cu-Unjieng, Manager, Investor Relations
and Public Relations of Abgenix, Inc., 510-608-4662
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