AMGEN TO COLLABORATE ON ANTIBODIES.Byline: Ben Sullivan Daily News Staff Writer Biotechnology drug maker Amgen Inc. said Monday it has signed a collaboration Working together on a project. See collaborative software. deal with a small Fremont-based company to develop antibodies for an undisclosed disease. The news nudged Amgen shares up by $3.125, or 4.8 percent, to $68.25. Shares in Abgenix Inc. rose $1.50, or 11.21 percent, to $14.875. Abgenix makes mouse-derived human antibodies for treating inflammatory and autoimmune disorders Autoimmune Disorders Definition Autoimmune disorders are conditions in which a person's immune system attacks the body's own cells, causing tissue destruction. , cancer and transplant-related diseases. In return for the antibodies, Amgen will give Abgenix an undisclosed initial payment, plus possible milestone payments and royalties on future product sales, if any. Abgenix appears to be on a roll. The small company has signed 10 corporate partnerships involving its mouse technology, including four since the start of 1999. Amgen has seen its share price bruised bruise v. bruised, bruis·ing, bruis·es v.tr. 1. a. To injure the underlying soft tissue or bone of (part of the body) without breaking the skin, as by a blow. b. in recent weeks, dropping from $80 on April 6 to a 30-day low of $60.9375 on April 19. Some analysts are concerned that the world's largest biotech bi·o·tech n. Informal Biotechnology. biotech Noun short for biotechnology Noun 1. drug developer will be unable to sustain the 20 percent-plus annual growth rate for sales of its flagship drug Epogen E·po·gen A trademark for the drug epoetin alfa. epoetin alfa Epogen, Eprex (CA) (UK), Procrit Pharmacologic class: Recombinant human erythropoietin Therapeutic class: . Amgen officials could not be reached Monday for comment on the Abgenix deal. |
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