Abgenix Enters XenoMouse Technology Collaboration with Biogen to Generate Fully Human Antibodies.Business Editors/Health & Medical Writers FREMONT, Calif.--(BW HealthWire)--June 12, 2001 Abgenix, Inc. (Nasdaq:ABGX) today announced that it has signed a research collaboration, option and license agreement with Biogen, Inc. under which the parties will use Abgenix's XenoMouse(TM) technology to generate fully human monoclonal antibodies This is a list of monoclonal antibodies, antibodies which are clones of a single parent cell. When used as medications, the generic names end in -mab (see "Nomenclature of monoclonal antibodies"). to up to fifteen antigen antigen: see immunity. antigen Foreign substance in the body that induces an immune response. The antigen stimulates lymphocytes to produce antibodies or to attack the antigen directly (see antibody;immunity). targets supplied by Biogen during the collaboration's multi-year term. Under the terms of the agreement, Abgenix will receive upfront research payments, and could receive license and milestone payments, and royalties on any future product sales by Biogen. Biogen will be responsible for product development, manufacturing, and commercialization of any products developed through the collaboration. "We are delighted to enter a XenoMouse collaboration with Biogen, a premier biotechnology company with industry-leading capabilities in discovering, developing and marketing novel therapies including therapeutic antibodies," stated R. Scott Greer, chairman and chief executive officer of Abgenix. "We are pleased to be working with Abgenix, a company well known for its technology leadership in the area of fully human antibodies. This agreement augments our strong antibody-generating capabilities and has the potential to contribute to the development of therapeutics therapeutics Treatment and care to combat disease or alleviate pain or injury. Its tools include drugs, surgery, radiation therapy, mechanical devices, diet, and psychiatry. in all four of our focus areas - inflammation, neoplasia neoplasia /neo·pla·sia/ (-pla´zhah) the formation of a neoplasm. cervical intraepithelial neoplasia , fibrosis fibrosis /fi·bro·sis/ (fi-bro´sis) formation of fibrous tissue.fibrot´ic congenital hepatic fibrosis and neurodegeneration," said Michael Gilman, Ph.D., vice president of Research at Biogen. Abgenix is a biopharmaceutical company focused on the development and commercialization of fully human monoclonal antibody therapies Monoclonal antibody therapy is the use of monoclonal antibodies (or Mab) to specifically target cells. The main objective is stimulating the patient's immune system to attack the malignant tumor cells and the prevention of tumor growth by blocking specific cell receptors. for a variety of diseases. The company's antibody technology platform, which includes XenoMouse(TM) technology, enables the rapid generation and selection of high affinity, fully human antibody product candidates to essentially any disease target appropriate for antibody therapy antibody therapy Clinical immunology Any therapeutic intervention in which a monoclonal or other concentrated antibody is used to manage a condition–eg, cancer or severe infection . Abgenix leverages its leadership position in human antibody technology by building a large and diversified diversified (di·verˑ·s 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, visit the company's website at www.abgenix.com. 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 Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. 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. |
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