Xoma discontinues development of CD5 Plus(TM).BERKELEY, Calif.--(BUSINESS WIRE)--Dec. 22, 1994--XOMA Corp. (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 :XOMA) Thursday announced that it has discontinued development of its CD5 Plus(TM) product for acute graft-versus-host disease graft-versus-host disease n. A type of incompatibility reaction of transplanted cells against host tissues that possess an antigen not possessed by the donor. Also called graft-versus-host reaction. (GvHD). This decision is based on the assessment of data from the recently concluded Phase III Noun 1. phase III - a large clinical trial of a treatment or drug that in phase I and phase II has been shown to be efficacious with tolerable side effects; after successful conclusion of these clinical trials it will receive formal approval from the FDA trial. Resources allocated to CD5 Plus are being redirected to Neuprex(TM) (rBPI), the company's major product development priority. "While the trial results indicate that CD5 Plus showed activity in this difficult to manage disease, the product did not meet our criteria for commercial development," said John L. Castello, chairman, president and chief executive officer for XOMA. "For the past two years, we have placed primary emphasis on the accelerated development of our Neuprex (rBPI) product for multiple indications, and it will enter Phase II efficacy trials during 1995." XOMA previously had disclosed that commercialization of CD5 Plus was not expected to be economically significant to the company. It was designated an orphan drug orphan drug, drug developed under the U.S. Orphan Drug Act (1983) to treat a disease that affects fewer than 200,000 people in the United States. The orphan drug law offers tax breaks and a seven-year monopoly on drug sales to induce companies to undertake the and would have addressed an estimated annual worldwide market of between 1,500 and 3,000 patients inflicted with GvHD. XOMA Corp. is a biopharmaceutical company focused on the development of products for the treatment of infectious and 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. diseases and other serious disorders. XOMA is headquartered in Berkeley. CONTACT: XOMA Corp., Berkeley David L. Ringler, 510/644-1170 |
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