Abgenix and Amgen clarify responsibilities for epidermal growth factor receptor antibody agreement.Abgenix (Fremont, CA) and Amgen, Inc. (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. , CA) announced that Abgenix and Amgen's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Immunex Corporation, have amended their agreement for ABX-EGF to clarify clinical development, manufacturing and commercialization responsibilities. ABX-EGF, a fully human monoclonal antibody monoclonal antibody, an antibody that is mass produced in the laboratory from a single clone and that recognizes only one antigen. Monoclonal antibodies are typically made by fusing a normally short-lived, antibody-producing B cell (see immunity) to a fast-growing directed against the epidermal growth factor receptor This article is about a cell suface receptor. For estimated measure of kidney function (eGFR), see Glomerular filtration rate. The epidermal growth factor receptor (EGFr), is in multiple clinical studies for several oncology indications. Under the amended agreement, Immunex will have decision-making authority for development and commercialization activities. Under a separate agreement, Abgenix will manufacture both clinical and early commercial supplies of ABX-EGF with Immunex's support and assistance. The companies will continue to share program costs equally, as well as worldwide operating profits from future sales of ABX-EGF. "We believe this amended agreement provides the optimal structure to advance the ABX-EGF program quickly and efficiently," said Dr. Raymond Withy with·y adj. 1. Made of or as flexible as withes; tough. 2. Wiry and agile. n. pl. with·ies 1. A rope or band made of withes. 2. a. , CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and President of Abgenix. "Our manufacturing capabilities will be critical to the late stage development and potential launch of this exciting product candidate." Under the amendment, Immunex will make available to Abgenix $60 million in the form of advances that may be used by Abgenix to fund its share of development and commercialization costs for ABX-EGF after Abgenix has contributed $20 million toward development costs in 2004. The amount of any advances drawn by Abgenix, plus interest, may be repaid out of profits resulting from future product sales. However, Abgenix is not obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. to repay any portion of the loan if ABX-EGF does not reach commercialization. ABX-EGF targets the epidermal growth factor receptor, which is over-expressed in a variety of cancers including lung, breast, pancreatic, bladder, prostate, colorectal, kidney, and head and neck cancers. Research has demonstrated that cancer cells cells once believed to be peculiar to cancers, but now know to be epithelial cells differing in no respect from those found elsewhere in the body, and distinguished only by peculiarity of location and grouping. See also: Cancer can become dependent on growth signals mediated through EGFr for their survival. In preclinical research, ABX-EGF monotherapy has been shown to inhibit the growth of human tumors in mice. Co-developed by Abgenix and Immunex, ABX-EGF is being evaluated in a comprehensive clinical program in several indications. Results of several clinical studies have demonstrated single-agent activity and a favorable pharmacokinetic and tolerability profile. Abgenix is focused on the discovery, development and manufacturing of human therapeutic antibodies. The company's antibody development platform includes a leading technology and state-of-the-art manufacturing capabilities that enable the rapid generation, selection and production of high affinity, fully human antibody product candidates to a variety of disease targets. Abgenix leverages its leadership position in human antibody technology to build a diversified product portfolio through the establishment of collaborations with multiple pharmaceutical and biotechnology companies Top 100 Biotechnology Companies The following is a list of the top 100 biotechnology companies ranked by revenue. The first nine companies qualify for the list of the top 50 pharmaceutical companies. . Abgenix +1-510-284-6350 www.abgenix.com Amgen Inc. +1-805-447-9753 www.amgen.com |
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