Abgenix Expands Antibody Agreements With Chiron.Business Editors/Medical Writers FREMONT, Calif.--(BW HealthWire)--March 29, 2001 Abgenix, Inc. (Nasdaq:ABGX) announced today that it has expanded its relationship with Chiron Corporation Chiron Corporation was a multinational biotechnology firm based in Emeryville, California that was acquired by Novartis International AG on April 20 2006. It had offices and facilities in eighteen countries on five continents. ("Chiron") (Nasdaq:CHIR CHIR Chiricahua National Monument (US National Park Service) ). Under the new agreement, Chiron will use Abgenix's XenoMouse (TM) technology to generate 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. against multiple cancer-specific 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 Chiron over a multi-year term. The first agreement between the parties included one antigen in the field of autoimmune disease autoimmune disease, any of a number of abnormal conditions caused when the body produces antibodies to its own substances. In rheumatoid arthritis, a group of antibody molecules called collectively RF, or rheumatoid factor, is complexed to the individual's own gamma , and four cancer antigens Antigens Markers on the outside of such organisms as bacteria and viruses, which allow antibodies to recognize foreign invaders. Mentioned in: Measles, Q Fever, Severe Combined Immunodeficiency . As in the terms of the December 1999 agreement, Abgenix will receive technology access fees, and could receive milestone and license payments, plus royalties on any future product sales by Chiron. Chiron will be responsible for product development, manufacturing, and commercialization of any products developed through the program. "We are pleased with Chiron's interest in adding new targets for antibody-based therapies," stated R. Scott Greer, chairman and chief executive officer of Abgenix. "We are delighted to provide extended access to XenoMouse(TM) technology to our existing customers." Abgenix is a biopharmaceutical company focused on the development and commercialization of fully human monoclonal antibody therapies 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 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. This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties. A full discussion of Chiron's operations and financial condition, including factors that may affect its business and future prospects, is contained in documents the company files with the SEC, such as forms 10-Q and 10-K. These documents identify important factors that could cause the company's actual performance to differ from current expectations, including the outcome of clinical trials, regulatory review, manufacturing capabilities and marketing effectiveness Marketing Effectiveness is the function of improving how marketers go to market with the goal of optimizing their marketing spend to achieve even better results for both the short-term and long-term. Also related to Marketing ROI and Return on Marketing Investment (ROMI). . In line with the new SEC Rule FD, Chiron Corporation does not undertake an obligation to update the forward-looking information we are giving today. |
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