AMGEN, NEOGENESIS TEAM ON DRUG.Byline: Evan Pondel Staff Writer THOUSAND OAKS Thousand Oaks, residential city (1990 pop. 104,352), Ventura co., S Calif., in a farm area; inc. 1964. Avocados, citrus, vegetables, strawberries, and nursery products are grown. - Amgen Inc. and NeoGenesis ne·o·gen·e·sis n. Regeneration of tissue. ne  o·ge·net ic adj. Pharmaceuticals announced Monday that they have signed an agreement to develop drugs targeting cancer and other diseases that affect the brain. Though terms of the deal were not disclosed, the move is a multiyear agreement in which NeoGenesis will receive funding and payments from Amgen for achieving research milestones. The Cambridge, Mass.-based company also will be entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: to royalties should its discovery efforts prevail. ``This deal is more of a validation for NeoGenesis than anything else,'' said Cory Kasimov, analyst with Ryan Beck & Co. in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . ``It also could potentially help Amgen develop its small molecules in the future.'' Small-molecule drugs differ from those products involving proteins and antibodies in that they can be administered orally. Many of Thousand Oaks-based Amgen's drugs are injected in·ject·ed adj. 1. Of or relating to a substance introduced into the body. 2. Of or relating to a blood vessel that is visibly distended with blood. injected 1. introduced by injection. 2. congested. . ``Amgen is well recognized for research and development innovation and the introduction of new medicines to the marketplace,'' Satish Jindal, chief executive officer of NeoGenesis, said in a statement. ``We are very pleased to be able to contribute to Amgen's ongoing commitment to small molecule drugs.'' Collaborating with smaller companies isn't new for Amgen. Many of the biotechnology giant's successful ventures stem from such relationships. Jennifer Chao, analyst with RBC Capital Markets RBC Capital Markets is the corporate and investment banking division of Royal Bank of Canada ("RBC"). Broker dealers Depending on the jurisdiction, the division uses different broker dealer subsidiaries of RBC:
``Amgen has the largest biotech bi·o·tech n. Informal Biotechnology. biotech Noun short for biotechnology Noun 1. budget in the universe,'' Chao said. ``These kinds of deals are pretty typical. Amgen is simply investing in its future.'' Amgen shares declined 7 cents to close at $68.18 Monday on the Nasdaq market. Evan Pondel, (818) 713-3662 evan.pondel(at)dailynews.com |
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