Corixa and GlaxoSmithKline Enter into License and Supply Agreement for BEXXAR Therapy in Canada.Business Editors/Health/Medical Writers BIOWIRE2K SEATTLE & MISSISSAUGA, Ontario--(BUSINESS WIRE)--May 28, 2003 Corixa Corporation (Nasdaq:CRXA) and GlaxoSmithKline Inc. (NYSE NYSE See: New York Stock Exchange :GSK GSK GlaxoSmithKline plc (pharmaceutical company) GSK Glycogen Synthase Kinase GSK Gruppentraining Sozialer Kompetenzen (Germany) GSK Greenland Shark (FAO fish species code) ) in Canada today announced that they have entered into an agreement whereby GSK will market BEXXAR(TM) therapy (tositumomab and iodine I 131 tositumomab) in Canada. BEXXAR(TM) therapy is currently under review by the U.S. Food and Drug Administration for the treatment of patients with B-cell, follicular fol·lic·u·lar adj. 1. Relating to, having, or resembling a follicle or follicles. 2. Affecting or growing out of a follicle or follicles. , non-Hodgkin's lymphoma non-Hodg·kin's lymphoma n. Any of various malignant lymphomas characterized by the absence of Reed-Sternberg cells. Non-Hodgkin's lymphoma (NHL NHL Non-Hodgkin's lymphoma, see there ). BEXXAR(TM) therapy will be co-promoted in the United States by Corixa and GlaxoSmithKline. Under the terms of the agreement, GSK will be responsible for registration, marketing and sales of the product in Canada. Corixa will be responsible for the manufacture and supply of BEXXAR(TM) therapy to GSK for the Canadian market. In addition to up front license fees, GSK will pay Corixa a milestone payment upon regulatory approval in Canada, milestone payments based on achievement of certain sales volume and reimbursement targets, payments in connection with product supply, and royalties on all future product sales in Canada. "Our collaborations with GlaxoSmithKline span several years and several discovery and development programs, and our collaboration for the development and marketing of BEXXAR(TM) is a definitive example of what a successful relationship is all about," said Steven Gillis, PhD., Chairman and Chief Executive Officer at Corixa. "This agreement leverages our joint success in the United States and extends that to a new market with new opportunities. We look forward to working with GlaxoSmithKline to deliver BEXXAR(TM) therapy to Canadian doctors and patients who can benefit from this innovative therapy." "It is GlaxoSmithKline's hope that a key outcome of this collaboration with Corixa will be a medication that helps treat Canadians who are suffering with a life-threatening form of cancer," said Paul Lucas, President and Chief Executive Officer, GlaxoSmithKline Inc. in Canada. "At GlaxoSmithKline, we place tremendous value in our relationships with innovative companies such as Corixa and the potential for BEXXAR(TM) therapy. Corixa's highly rigorous drug discovery development process and a commitment to improving health through innovation make them an ideal choice." BEXXAR(TM) Therapy BEXXAR(TM) is a dual-action therapy that pairs the tumor-targeting ability of a cytotoxic cy·to·tox·ic adj. Of, relating to, or producing a toxic effect on cells. cy  to·tox·ic (cancer killing) 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 (tositumomab) and the therapeutic potential of radiation (iodine 131)
administered as a patient-specific dose. Iodine 131 has a
well-established safety profile in the treatment of thyroid disease thyroid disease Thyroid disorder Endocrinology Any benign or malignant condition that affects the structure or function of the thyroid gland. See Anaplastic carcinoma of thyroid, Chronic thyroiditis–Hashimoto's disease, Hyperthyroidism, Hypoparathyroidism, and
tositumomab has anti-tumor activity of its own. Combined, these agents
form a radiolabeled monoclonal antibody (iodine I 131 tositumomab) that
binds to the target antigen CD20 found on NHL cells, thereby initiating
an immune response immune responsen. An integrated bodily response to an antigen, especially one mediated by lymphocytes and involving recognition of antigens by specific antibodies or previously sensitized lymphocytes. against the cancer and delivering a dose of radiation directly to tumor cells. BEXXAR(TM) therapy is the only NHL therapy that is specifically dosed based on an individual's drug clearance rate, allowing the delivery of a pre-determined amount of radiation to each individual patient. About Corixa Corixa is a developer of immunotherapeutics with a commitment to treating and preventing autoimmune diseases Autoimmune diseases A group of diseases, like rheumatoid arthritis and systemic lupus erythematosus, in which immune cells turn on the body, attacking various tissues and organs. Mentioned in: Complement Deficiencies, Premature Menopause , cancer and infectious diseases by understanding and directing the 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. . Corixa is focused on immunotherapeutic products and has a broad technology platform enabling both fully integrated vaccine design and the use of its separate, proprietary product components on a standalone basis. Corixa currently has multiple programs in clinical development, including several product candidates that have advanced to and through late stage clinical trials. The company partners with numerous developers and marketers of pharmaceuticals, targeting products that are Powered by Corixa(TM) technology with the goal of making its potential products available to patients around the world. Corixa was founded in 1994 and is headquartered in Seattle, with additional operations in Hamilton, Montana, and South San Francisco South San Francisco, city (1990 pop. 54,312), San Mateo co., W Calif.; inc. 1908. South San Francisco has several industrial parks; its manufactures include medical supplies and equipment, foods, paint, paper products, consumer goods, and clothing. . For more information, visit Corixa's Web site at www.corixa.com. About GlaxoSmithKline GlaxoSmithKline (NYSE:GSK) -- one of the world's leading research-based pharmaceutical and healthcare companies -- is committed to improving the quality of human life by enabling people to do more, feel better and live longer. In Canada, GlaxoSmithKline Inc. employs more than 1,800 people and is a top 25 investor in Canadian research and development, contributing more than $100 million (Canadian) annually. The company is also one of the top 10 corporate charitable donors, investing more than $7.5 million annually and is recognized as one of the 50 best companies to work for in Canada. For more information, visit www.gsk.ca. Corixa Forward-Looking Statements This press release contains forward-looking statements, including statements regarding the prospects for approval of our product, BEXXAR(TM) therapy by the FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. and by Health Canada, statements about our potential future royalties from the new marketing agreement with GSK and other statements about our plans, objectives, intentions and expectations. Forward-looking statements are based on the opinions and estimates of management at the time the statements are made. They are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Factors that could affect Corixa's actual results include, but are not limited to, the risk that we do not obtain approval for the sale of BEXXAR(TM) therapy in the US or Canada, the risk that we do not receive the expected royalties from our agreement with GSK and the "Factors Affecting Our Operating Results, Our Business and Our Stock Price," described in our 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, 2002, copies of which are available from our investor relations Investor relations The process by which the corporation communicates with its investors. department. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. GlaxoSmithKline Forward-Looking Statements Under the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the US Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, the Company cautions investors that any forward-looking statements or projections made by the Company, including those made in this Announcement, are subject to risks and uncertainties that may cause actual results to differ materially from those projected. Factors that may affect the Group's operations are described under Risk Factors in the Operating and Financial Review and Prospects in the Company's Annual Report on Form 20-F for 2002, filed with the US Securities and Exchange Commission. BEXXAR(TM) is a trademark of Corixa Corporation, used under license by GlaxoSmithKline Inc. (BEXXAR(R) is a registered trademark in the United States.) |
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