Corixa Receives $1 Million Milestone Payment from Organon as Part of Rheumatoid Arthritis Treatment Collaboration.
SEATTLE--(BW HealthWire)--April 17, 2000
Randomized, Blinded, Placebo-Controlled,
Phase I/II Dose Escalation Trial Completed
Corixa Corporation (Nasdaq:CRXA), a research- and development-based biotechnology company, today announced it has received a $1 million milestone payment under its agreement with the Netherlands-based pharmaceutical company, Organon, to develop and market Corixa's AnergiX.RA(TM) complex for the treatment of arthritis.
Pursuant to the agreement, Corixa received the milestone payment following the completion of a randomized, blinded, placebo-controlled, dose escalation Phase I/II clinical trial of AnergiX.RA complex.
"Our achievement of this milestone further demonstrates Corixa's ability to deliver on its partner commitments and illustrates Organon's support of our efforts," said Steven Gillis, Ph.D., chairman and chief executive officer of Corixa. "We look forward to pursuing the next steps associated with clinical and commercial development of this novel therapeutic agent for treatment of rheumatoid arthritis."
Corixa announced on November 17, 1999 that interim data from its Phase I, dose escalation, randomized, double-blinded and placebo-controlled trial of AnergiX.RA(TM) complex provided evidence of safety and clinical activity. Final results from the Phase I/II trial are expected by the end of the second quarter, 2000.
Under terms of the agreement between Corixa and Organon, in addition to royalties, Corixa could receive cash, license fees and milestone payments totaling more than $15 million. Organon currently holds worldwide commercialization rights to the AnergiX.RA complex. Corixa maintains co-marketing rights in the United States.
About AnergiX(R) Complexes
AnergiX(R) complexes consist of solubilized class II MHC molecules loaded with disease specific auto-antigenic peptides. AnergiX.RA is a complex of solubilized HLA DRB1-0401(a) together with a specific peptide from the human cartilage glycoprotein HCgp39. AnergiX complexes have been shown to inhibit development and/or reduce autoimmune disease in a variety of animal model systems, via induction of T cell unresponsiveness or anergy. This occurs because the AnergiX complex binds to autoimmune T cell antigen receptors in the absence of co-stimulatory signals normally provided by antigen presenting cells. Corixa is also developing AnergiX.MS(TM) complex for the treatment of patients with multiple sclerosis. AnergiX.MS complex has completed a randomized, double-blinded, placebo-controlled, dose escalation clinical trial. AnergiX.RA complex is the subject of a worldwide partnership with Organon, a subsidiary of Akzo Nobel.
Corixa is a research- and development-based biotechnology company committed to treating and preventing autoimmune diseases, cancer and infectious diseases by understanding and directing the immune system. 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 vaccine components on a standalone basis. The company partners with numerous developers and marketers of pharmaceuticals and diagnostic products with the goal of making its potential products, Powered by Corixa(TM), available to patients around the world. Corixa was founded in 1994 and is headquartered in Seattle, Wash., with additional operations in Hamilton, Mont. and Redwood City, Calif. For more information, please visit Corixa's website at www.corixa.com or call the company's investor relations information line at 1-877-4CORIXA or 877/426-7492.
Except for the historical information presented, certain matters discussed in this press release are forward-looking statements that 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. Such risks and uncertainties include Organon's failure to further develop or commercialize any products that include AnergiX.RA complex, the failure of AnergiX.RA complex to prove safe or effective in clinical trials, and other risks detailed from time to time in Corixa's public disclosure filings with the U.S. Securities and Exchange Commission (SEC), including the Annual Report on Form 10-K for the fiscal year ended December 31, 1999, and the Company's Registration Statement on Form S-3, filed on March 7, 2000. Copies of Corixa's public disclosure filings with the Securities and Exchange Commission (SEC) are available from its investor relations department.
(a) The asterisk which would normally appear in the name HLA DRB1-0401 has been substituted with a hyphen in this release, as the asterisk cannot be read in some systems.
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|Date:||Apr 17, 2000|
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