Collaboration Targets Antibody Products for Autoimmune Disease and Cancer
FREMONT, Calif., Dec. 1 /PRNewswire/ -- Abgenix, Inc. (Nasdaq: ABGX) today
announced that it has signed a research license and option agreement with
Chiron, Inc. ("Chiron") (Nasdaq: CHIR) under which Chiron will use Abgenix's
XenoMouse(TM) technology to generate fully human monoclonal antibodies to an
undisclosed antigen in the field of autoimmune diseases. In return, Abgenix
will receive a technology access payment and could receive additional fees and
milestone payments plus royalties on future product sales by Chiron. Under a
separate research collaboration agreement, Chiron may use XenoMouse to
generate fully human monoclonal antibodies on up to four cancer targets.
Chiron will be responsible for product development, manufacturing, and
marketing of any products developed through the collaboration.
"We are delighted to be working with Chiron, one of the world's leading
biotechnology companies," stated R. Scott Greer, president and CEO of Abgenix.
"Chiron becomes the fourteenth partner using our XenoMouse technology to
generate antibody product candidates. This deal also represents the eighth new
potential product candidate being pursued by one of our XenoMouse
collaborators this year."
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 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 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.
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
CONTACT:
Kurt Leutzinger, Vice President and Chief
Financial Officer of Abgenix Inc., 510-608-6575; or Marion E.
Glick of Porter Novelli, 212-601-8273, for Abgenix, Inc.
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