Abgenix and Agensys Enter Technology License Collaboration to Discover and Develop Human Therapeutic Antibodies Against Cancer.Business Editors/Health & Medical Writers FREMONT, Calif. & SANTA MONICA Santa Monica (săn`tə mŏn`ĭkə), city (1990 pop. 86,905), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1886. Tourism and retailing are important, and the city has motion-picture, biotechnology, and software industries. , Calif.--(BW HealthWire)--Aug. 14, 2001 Abgenix, Inc. (Nasdaq:ABGX) and Agensys, Inc., a privately-held biotechnology company, announced today a research collaboration, option and license agreement under which the parties will use Abgenix's human antibody technologies to discover and develop 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 selected cancer 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 Agensys. Agensys' proprietary portfolio of 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 includes antigens associated with prostate prostate /pros·tate/ (pros´tat) a gland surrounding the bladder neck and urethra in the male; it contributes a secretion to the semen.prostat´ic pros·tate n. The prostate gland. adj. , kidney, bladder, lung, colon and ovarian cancers ovarian cancer Malignant tumour of the ovaries. Risk factors include early age of first menstruation (before age 12), late onset of menopause (after age 52), absence of pregnancy, presence of specific genetic mutations, use of fertility drugs, and personal history of breast . Under the terms of the multi-product agreement, Agensys has option rights to obtain exclusive product licenses for up to 25 antigen targets during the collaboration's five-year term. For each selected antigen, Abgenix will receive research license payments, and could receive additional fees and milestone payments, as well as royalties on any future product sales by Agensys. Agensys will be responsible for product development, manufacturing, and commercialization of any products developed through the collaboration. "We are excited to enter this alliance with Agensys to generate fully human antibody candidates to their large portfolio of novel, clinically relevant cancer antigens," stated R. Scott Greer, chairman and chief executive officer of Abgenix. "This collaboration demonstrates our ongoing efforts in offering cancer patients new treatment options." "Agensys' alliance with Abgenix will allow us to drive forward the development of numerous antibody products based on our proprietary cancer antigens," said Donald B. Rice, chief executive officer of Agensys. "We're most pleased to collaborate with Abgenix and its top notch technology for making fully human antibodies." Antibodies are naturally occurring proteins used by the body's immune system immune system Cells, cell products, organs, and structures of the body involved in the detection and destruction of foreign invaders, such as bacteria, viruses, and cancer cells. Immunity is based on the system's ability to launch a defense against such invaders. 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 Side effects Effects of a proposed project on other parts of the firm. 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 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 XenoMax(TM) technology, enables the rapid generation and selection of high affinity, fully human antibody product candidates to disease targets 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 technologies 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. Agensys is a cancer-focused biotechnology company developing targeted 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. based on its large portfolio of novel cancer antigens. The company uses a variety of discovery and validation technologies to identify antigens with clinical relevance in multiple solid tumors. It recently moved into expanded facilities which includes a 10,000 square feet clinical scale manufacturing plant for antibodies. Agensys leverages its multiple product opportunities through internal development of selected antibody products and out-licensing of both antibody products and antigens suitable for development of small molecule and vaccine products. Agensys signed a $33 million deal with Genentech, Inc. in July 2000 for development of antibody therapy in cancer targeting PSCA PSCA Profit Sharing/401(K) Council of America PSCA Philippine School of Culinary Arts PSCA Protein Sequence Comparative Analysis PSCA Parts Stress Count Analysis (British Telecom) , one of Agensys' cancer antigens. For more information on Agensys, visit the company's website at www.agensys.com. Statements made in this press release about Abgenix's 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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