Regeneron and Medarex to Collaborate to Develop Human Antibody Drugs; Companies Select More Than 20 Initial Targets.Business Editors TARRYTOWN, N.Y.--(BUSINESS WIRE)--March 10, 2000 Regeneron Pharmaceuticals, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : REGN) announced that it has entered into a collaboration with Medarex, Inc. (NASDAQ: MEDX) to discover, develop and commercialize human antibodies as therapeutics. Regeneron will contribute its expertise in discovering and characterizing proteins as drug discovery targets, and Medarex will contribute its HuMAb-Mouse(TM) technology to create fully human antibody products for those targets. The companies have selected more than 20 initial targets, including growth factors, 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. , and receptors, and plan to add additional targets in the future. The HuMAb-Mouse is a transgenic mouse whose genes for creating mouse antibodies have been inactivated inactivated rendered inactive; the activity is destroyed. inactivated viruses treated so that they are no longer able to produce evidence of growth or damaging effect on tissue. and replaced by human antibody genes. This makes it possible to rapidly create and develop fully human antibodies as drug candidates. In the binding memorandum of understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. , Medarex and Regeneron agree to share preclinical and clinical responsibilities, and the two companies intend to jointly market any drugs that result from this collaboration. Regeneron is a biopharmaceutical company that discovers, develops, and intends to commercialize therapeutic drugs for the treatment of serious medical conditions. Regeneron's platform technologies include Targeted Genomics(TM), Functionomics(TM), and Designer Protein Therapeutics(TM). Regeneron has drugs in clinical and preclinical development for the potential treatment of obesity, rheumatoid arthritis rheumatoid arthritis Chronic, progressive autoimmune disease causing connective-tissue inflammation, mostly in synovial joints. It can occur at any age, is more common in women, and has an unpredictable course. , cancer, allergies, asthma, amyotrophic lateral sclerosis amyotrophic lateral sclerosis (ALS) (ā'mīətrōf`ik, sklĭrō`sĭs) or motor neuron disease, , constipating con·sti·pate tr.v. con·sti·pat·ed, con·sti·pat·ing, con·sti·pates 1. To cause constipation in. 2. To clog or make sluggish; obstruct. conditions, ischemia, and other diseases and disorders. This news release discusses historical information and includes forward-looking statements about Regeneron and about its products, programs, finances, and business, all of which involve a number of risks and uncertainties, such as risks associated with preclinical and clinical development of drugs and biologics, determinations by regulatory and administrative governmental authorities, competitive factors, technological developments, the availability and cost of capital, the costs of developing, producing, and selling products, the potential for any collaboration agreement to be canceled or to terminate without any product success, and other material risks. A more complete description of these risks can be found in Regeneron's filings with the United States Securities and Exchange Commission, including its 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 ending December 31, 1999. Regeneron does not undertake any obligation to update publicly any forward-looking statement, whether as a result of new information, future events, or otherwise. Fax copies of news releases can be obtained from Regeneron's News-on-Demand Service by dialing (800) 311-0841. |
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