Applied Molecular Evolution Announces Achievement of a Milestone in Collaboration with Lilly for Antibody Optimization.Business Editors & Health/Medical Writers BIOWIRE2K SAN DIEGO--(BUSINESS WIRE)--Oct. 16, 2002 Significant Improvements Engineered in Potency, Affinity and Stability Applied Molecular Evolution, Inc. (AME See AIT. ) (Nasdaq: AMEV AMEV Armored Medical Evacuation Vehicle ) today announced that it has achieved a milestone in one of its collaborations with Eli Lilly and Company Eli Lilly and Company (NYSE: LLY) is a global pharmaceutical company and one of the world's largest corporations. Eli Lilly's global headquarters is located in Indianapolis, Indiana, in the United States. (NYSE NYSE See: New York Stock Exchange : LLY) to optimize a therapeutic antibody candidate. AME successfully met or exceeded the criteria for improving the potency, affinity and stability of the molecule as specified in the collaboration agreement. Financial terms of the milestone were not disclosed. "AME increased the potency and the affinity for its target of Lilly's antibody by over 10-fold, as demonstrated in in vitro in vitro /in vi·tro/ (in ve´tro) [L.] within a glass; observable in a test tube; in an artificial environment. in vi·tro adj. In an artificial environment outside a living organism. models," stated William D. Huse, M.D., Ph.D., President, Chief Executive Officer and Chairman of AME. "Additionally, we enhanced the stability of the antibody, potentially leading to downstream benefits in the manufacturing process. This collaboration represents another example of our ability to significantly improve biotherapeutic candidates for leading biopharmaceutical companies such as Lilly." About Applied Molecular Evolution Applied Molecular Evolution, Inc., (AME) is a leader in applying directed molecular evolution to improve healthcare by optimizing and developing human biotherapeutics. Directed molecular evolution is a process for optimizing genes and proteins for specific commercial purposes. Since its inception, AME's principal focus has been on applying its proprietary AMEsystem(TM) technology platform to human biotherapeutics, the largest market for directed molecular evolution. Biotherapeutics, or biopharmaceuticals, are protein pharmaceuticals such as antibodies, cytokines Cytokines Chemicals made by the cells that act on other cells to stimulate or inhibit their function. Cytokines that stimulate growth are called "growth factors. , hormones and enzymes. AME uses its proprietary technology to develop improved versions of currently marketed, FDA-approved biopharmaceuticals as well as novel human biotherapeutics. For more information please visit www.AMEvolution.com. This press 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 are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements, including uncertainties related to product development and the achievement of future milestones, uncertainties related to the need for regulatory or other government approvals, dependence on proprietary technology, uncertainty of market acceptance of the Company's products, uncertainties related to business opportunities, the receipt of future payments, including royalties and milestone payments, the continuation of customer relationships and other risks cited in the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2001, and other SEC Filings. These forward-looking statements speak only as of the date hereof. The Company disclaims any intent or obligation to update these forward-looking statements. |
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