Abgenix and Chugai Collaborate to Develop and Manufacture Antibody Therapeutics.Business Editors/Medical Writers FREMONT, Calif.--(BUSINESS WIRE)--Feb. 3, 2003 Abgenix, Inc. (Nasdaq:ABGX) and Chugai Pharmaceutical (CHGCF.PK) today announced a multi-year collaboration to discover, develop and commercialize 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. . As part of the agreement, Abgenix will manufacture 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 product candidates advanced into clinical trials by the collaboration. Financial details related to the collaboration were not disclosed, but will include an upfront technology utilization payment and a licensing fee to Abgenix. Under the terms of the agreement, Abgenix and Chugai will each contribute up to two antigen targets to the collaboration representing diverse therapeutic areas. Abgenix will utilize its XenoMouse(TM) technology to generate, screen and characterize 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"). directed against each antigen target. Abgenix will also be responsible for manufacturing monoclonal antibodies against target antigens for use in clinical trials. Chugai will be responsible for commercial manufacturing in Japan, while Abgenix will be responsible for commercial manufacturing in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Europe. The companies will share equally in the development and commercialization costs of all therapeutic antibody products that are designated as joint development antigens. Any future profits resulting from the collaboration will also be shared equally on a worldwide basis. Under a separate agreement, Chugai will obtain a license to rights under patents held by Abgenix to develop and commercialize products based on parathyroid hormone-related protein Parathyroid hormone-related protein (or PTHrP) is a protein occasionally secreted by cancer cells (breast cancer, certain types of lung cancer including squamous cell carcinoma). However, it also has normal functions. (PTHrp). "Our collaboration with Chugai leverages the full spectrum of our integrated antibody development platform including discovery, development and state-of-the-art manufacturing capabilities," said Ray 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. , Ph.D., president and chief executive officer of Abgenix. "This strategic collaboration supports our goal to become the partner of choice in discovery, development and commercialization of antibody-based 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. ." "We look forward to collaborating with Abgenix, a company focused on antibody therapeutics, to develop and manufacture antibody-based products," said Mr. Motoo Ueno, deputy president, member of the board of directors at Chugai Pharmaceutical. 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. About Chugai Pharmaceutical Co. Ltd. Chugai Pharmaceutical Co., Ltd. is one of Japan's leading research-based pharmaceutical companies with strengths in biotechnology products and in the therapeutic fields of oncology, renal diseases Renal disease Kidney disease. Mentioned in: Glycogen Storage Diseases hypertension High blood pressure Cardiovascular disease An abnormal ↑ systemic arterial pressure, corresponding to a systolic BP of > 160 mm Hg , cardiovascular diseases Cardiovascular disease Disease that affects the heart and blood vessels. Mentioned in: Lipoproteins Test cardiovascular disease , bone/joint diseases and transplantation/infection/immunity. With pharmaceutical sales of 193 billion yen in 2001, Chugai has invested in research and development capabilities in the US and Europe, and has established sales and marketing operations in France, Germany and the UK. Chugai employs 5,867 employees world-wide. About Abgenix Abgenix is a biopharmaceutical company focused on the development and commercialization of human therapeutic antibodies. The company's technology platform, which includes XenoMouse(R) and XenoMax(TM) technologies, enables the rapid generation and selection of high affinity, fully human antibody product candidates to a variety of disease targets. Abgenix leverages its leadership position in human antibody technology by building a diversified product portfolio through the development of its own internal proprietary products and through the establishment of licensing arrangements with multiple pharmaceutical, biotechnology and genomics companies. For more information on Abgenix, visit the company's website at www.abgenix.com. Statements made in this press release about Abgenix' technologies, product development activities, collaborative arrangements and manufacturing activities, other than statements of historical fact, and about its projected financial results, are 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. 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, product manufacturing, 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' patent portfolio. Please see Abgenix' public filings with the Securities and Exchange Commission for information about risks that may affect Abgenix. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion