New Antibody-Based Therapeutics to Target Ten Cancer-Specific Antigens
FREMONT, Calif., and SEATTLE, Nov. 28 /PRNewswire/ -- Abgenix, Inc.
(Nasdaq: ABGX) and Immunex Corporation (Nasdaq: IMNX) today announced a multi-
year collaboration designed to discover, develop and potentially commercialize
fully human monoclonal antibody therapies for the treatment of various forms
of cancer.
Abgenix and Immunex each will contribute five cancer-specific antigen
targets during the first five years of the collaboration. In addition to
contributing cancer-specific antigens, the parties will contribute their
respective proprietary technologies and development capabilities. Abgenix
will utilize its XenoMouse(TM) technology to generate, screen and characterize
human monoclonal antibodies directed against each antigen target. Immunex
will utilize its extensive expertise in target validation and pre-clinical
biology. The companies will share equally in the development and
commercialization of any therapeutic anti-cancer antibody product.
Abgenix and Immunex have an existing co-development and commercialization
collaboration for ABX-EGF, a fully human monoclonal antibody created by
Abgenix and being developed for the treatment of several tumor types.
"Abgenix is pleased to expand our relationship with Immunex through this
multi-product alliance," said R. Scott Greer, chairman and CEO of Abgenix.
"Abgenix and Immunex share a common belief that antibody-based cancer
therapies can play a significant role in improving the lives of cancer
patients."
"Our relationship with Abgenix helps achieve two stated goals for
Immunex: we continue to strengthen our position at the forefront of cancer
research and expand our growing competency in monoclonal antibody technology,"
said Ed Fritzky, Immunex Chairman and CEO.
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, visits the
company's website at http://www.abgenix.com.
Immunex Corporation is a leading biopharmaceutical company dedicated to
improving lives through immune system science innovations.
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.
NOTE: This news release contains forward-looking statements that involve
risks and uncertainties, including risks associated with clinical development,
regulatory approvals, our reliance on third-party manufacturers, 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. An
electronic version of this news release -- as well as additional information
about Immunex of interest to investors, customers, future employees and
patients -- is available on the Immunex home page at http://www.immunex.com.
SOURCE Immunex Corporation
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Related links:
http://www.immunex.com
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http://www.prnewswire.com/comp/434644.html or fax,
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CONTACT:
Ina Cu, Media/Investor Relations of Abgenix,
Inc., 510-608-4662; or media, Kris Greco, 206-470-4871, or
investors, Mark Leahy, 206-389-4363, both of Immunex Corporation
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