ROCKVILLE, Md. and FREMONT, Calif., Dec. 1 /PRNewswire/ -- Human Genome
Sciences, Inc. (Nasdaq: HGSI) and Abgenix, Inc. (Nasdaq: ABGX) announced today
a broad collaboration and technology exchange to identify dozens of novel
human antibody drug candidates for development and commercialization.
Under this multi-year agreement, HGS has the right to use Abgenix's
XenoMouse(TM) technology to generate fully human antibody drug candidates
using HGS' proprietary novel targets. HGS has identified and characterized
thousands of fully-cloned expressed secretory proteins that provide a source
of novel antigens. HGS will develop and commercialize independently
antibody-based drugs arising from this collaboration. Abgenix also has an
option in the future to develop and commercialize independently products
derived from HGS antigens. HGS and Abgenix will pay reciprocal milestones and
royalties for products developed and commercialized.
In addition, the two companies will work together on certain antigens
applying their complementary expertise to jointly develop additional antibody
drugs. Abgenix and HGS intend to select up to two targets of interest each
year for shared development and commercialization.
Both Abgenix and HGS have built a product development capability in recent
years. Abgenix has multiple proprietary antibody product candidates under
development internally and is conducting three clinical trial programs for
graft-versus-host disease, psoriasis and cancer. HGS has three drugs
undergoing clinical trials in the areas of tissue repair and oncology.
"Combining Abgenix' XenoMouse technology with Human Genome Sciences' rich
cache of genomics-derived targets creates a powerful platform for generating
new therapeutic antibody products," stated R. Scott Greer, President and CEO
of Abgenix. "We see this collaboration with HGS as an attractive way to build
the proprietary product side of our business."
"We are very pleased to work with Abgenix to identify antibody product
candidates. We believe this moves HGS forward in its mission to use its own
proprietary assets for the creation of new drug products that fill unmet
medical needs," said William A. Haseltine, Ph.D., Chairman and Chief Executive
Officer of HGS. "The combination of Abgenix's antibody technology with HGS'
extensive collection of proprietary, well-characterized antigens will provide
both companies with a very fertile source of product opportunities. This
agreement adds a significant new dimension to HGS' drug discovery
capabilities."
Arthur M. Mandell, Senior Vice President of Corporate and Business
Development for HGS, commented, "Our expanding portfolio of products in human
clinical development, along with HGS' emerging pre-clinical pipeline, will be
enhanced by the availability of the Abgenix XenoMouse technology. Antibodies
represent an exciting and growing new class of drugs with many new
antibody-based products on the market. The collaborative spirit of our working
relationship should be one of the key ingredients for success."
Antibodies are naturally-occurring proteins that the body's immune system
uses to combat many diseases. As therapeutic products, antibodies have several
potential advantages over other therapies. The highly specific interaction
between an antibody and its target may, for example, reduce unwanted side
effects that may occur with other therapies. Fully human antibodies are
desirable because they avoid the risk of rejection present with mouse or
partial mouse antibodies.
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 and biotechnology companies involving its XenoMouse
technology. For more information on Abgenix, visit the company's web site at
http://www.abgenix.com.
Human Genome Sciences is a company with the mission to develop products to
predict, prevent, detect, treat and cure disease based on its leadership in
the discovery and understanding of human and microbial genes.
NOTE: HGS and Human Genome Sciences are registered trademarks of Human
Genome Sciences, Inc. For additional information on Human Genome Sciences,
Inc., visit the company's web site at http://www.hgsi.com. Copies of HGS press
releases are also available by fax 24 hours a day at no charge by calling
800-758-5804, ext. 121115.
Any statements released by Human Genome Sciences, Inc. that are forward
looking are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Editors and investors are cautioned
that forward-looking statements involve risks and uncertainties which may
affect the company's business prospects and performance. These include
economic, competitive, governmental, technological and other factors discussed
in the company's filings with the Securities and Exchange Commission on forms
10-K, 10-Q and 8-K.
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; or Arthur Mandell, Senior
Vice President, Corporate and Business Development, 301-309-8504,
or Kate de Santis, Director, Corporate Communications and
Investor Relations, 301-251-6003, both of Human Genome Sciences,
Inc.
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