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IDEC PHARMACEUTICALS AND SMITHKLINE BEECHAM ANNOUNCE COLLABORATION TO DEVELOP AND COMMERCIALIZE 'PRIMATIZED' ANTIBODIES FOR ARTHRITIS

IDEC PHARMACEUTICALS AND SMITHKLINE BEECHAM ANNOUNCE COLLABORATION TO
 DEVELOP AND COMMERCIALIZE 'PRIMATIZED' ANTIBODIES FOR ARTHRITIS
 LA JOLLA and MOUNTAIN VIEW, Calif., Oct. 14 /PRNewswire/ -- IDEC Pharmaceuticals Corporation (NASDAQ: IDPH) and SmithKline Beecham (NYSE: SBE) have entered into a product development and marketing agreement aimed at the commercialization of therapeutic products based on "primatized" anti-CD4 antibodies.
 Under the terms of the agreement, IDEC Pharmaceuticals will receive milestone payments that have the potential of reaching in excess of $30 million. In addition, IDEC will receive funding for certain research and development, and royalties on sales of products which may be commercialized as a result of this collaboration.
 Concurrently, SR One, SmithKline Beecham's venture capital subsidiary, agreed to purchase $2.4 million worth of IDEC's common stock through open market purchases, and to purchase from the company warrants which cover future purchases of newly issued shares directly from IDEC. Half of the open market purchases will be completed before April 15, 1993, and the second half will follow the allowance by the FDA of an IND for IDEC's primatized anti-CD4 antibody. The warrants will be purchased for $3 per share, will cover the purchase of up to 400,000 shares of IDEC common stock at $12 per share, and will be automatically exercised if the closing price of IDEC stock exceeds $15 per share for 90 days. SR One's open market purchases will be done in compliance with the provisions of Rule 10b-18 under the Securities Exchange Act of 1934.
 The primatized antibodies central to the collaborative agreement are part of a new class of genetically engineered antibodies developed by IDEC Pharmaceuticals. They are derived from human and monkey antibodies and because of their structural similarity to human antibodies, these novel antibodies are targeted for the development of safe and effective treatments for a variety of chronic autoimmune diseases not currently treatable with existing antibody therapy. Potential applications of the primatized anti-CD4 antibodies include rheumatoid arthritis, systemic lupus erythematosus, psoriasis, inflammatory bowel disease and multiple sclerosis.
 "We are excited about the prospects for this technology," said William H. Rastetter, Ph.D., president and chief executive officer of IDEC Pharmaceuticals. "Our collaborative efforts with SmithKline Beecham will focus on the potential use of our primatized antibodies to check or inhibit over-active immune responses, which are the basis of a variety of autoimmune diseases. Our objective is to develop and market therapeutics to treat chronic diseases that could require long-term therapy."
 "We will be focusing initially on the development of products for the treatment of rheumatoid arthritis," said Jan Leschly, chairman of SmithKline Beecham Pharmaceuticals. "This is an area of growing importance to SmithKline Beecham, with the successful introduction earlier this year in the United States of Relafen(R) for the treatment of arthritis."
 The collaborative agreement between the two companies calls for IDEC Pharmaceuticals to be responsible for preclinical development, initial supplies of clinical-grade antibody and early human clinical studies. These efforts will be funded by SmithKline Beecham (SB). SB will carry out later stage development efforts, enabling both companies to exploit SmithKline Beecham's extensive, well-established infrastructure to advance development candidates as rapidly as possible through costly, large-scale human clinical studies and the subsequent regulatory approval process.
 The companies have agreed to co-promote the resulting products in the United States and Canada. SB will have exclusive rights in Europe and certain other areas of the world.
 SmithKline Beecham -- one of the world's leading healthcare companies -- discovers, develops, manufactures and markets human and animal pharmaceuticals, over-the-counter medicines and clinical laboratory testing services.
 IDEC Pharmaceuticals is a leader in the development of immunologically active monoclonal antibodies for therapeutic applications. These agents are designed to act through immune system mechanisms and potentially offer greater specificity of action, longer therapeutic effect and lower toxicity than is typical of existing therapies. Current human clinical studies are focused on product candidates for the treatment of immune system cancers (lymphomas and leukemias), malignant melanoma, and HIV infection.
 IDEC Pharmaceuticals is headquartered at 11099 North Torrey Pines Road, La Jolla, CA 92037. Company operations are also located in Mountain View, CA.
 ADDITIONAL BACKGROUND INFORMATION
 WHY PRIMATIZED ANTIBODY TECHNOLOGY
 Research by IDEC Pharmaceuticals has shown that the macaque monkey is genetically so close to humans that it produces antibodies that are structurally indistinguishable from human antibodies in their variable regions (the areas that attach to disease-causing antigens). Company research also has shown that the macaque is genetically distant enough from humans to be able to produce antibodies against human antigens and may therefore prove useful in treating autoimmune diseases, inflammatory conditions and transplant rejection.
 As reported on March 26, 1992, at the Second International Conference on Human Antibodies and Hybridomas held in Cambridge, England, IDEC Pharmaceuticals found that the macaque can be immunized to make antibodies that react with human, but not with macaque, antigens and pose no apparent risk to the monkey. The cells producing these antibodies are then harvested by the same procedures used to obtain antibody-producing cells from humans. Working with these cells, company scientists apply genetic engineering techniques to isolate the portions of the macaque antibody gene that code for the antibody's variable regions. This genetic material is then combined with genetic material from a human antibody gene (specifically, the portions coding for the constant regions) and is expressed in a laboratory cell line. The result is a primatized (part human, part macaque) antibody, which can be manufactured in quantity in a controlled environment outside the body.
 IDEC's discovery demonstrated that near-human antibodies, including antibodies not normally made by the human immune system, can now be obtained with the aid of the macaque. In addition, because of their structural similarity to human antibodies, these novel antibodies are expected to allow for the development of safe and effective treatments for certain conditions that currently are not treatable with antibody therapy.
 FIRST PRODUCT APPLICATION OF PRIMATIZED ANTIBODY TECHNOLOGY
 As a practical first step, IDEC Pharmaceuticals' scientists immunized macaque monkeys with the human CD4 antigen and harvested the resulting antibody-producing immune cells, without harm to the animal. They then isolated the gene responsible for the production of the "anti-CD4" antibody, developed a primatized antibody, and produced laboratory-scale quantities of this antibody in cell culture. Upon analysis, they found that the antibody is very similar in structure and amino acid sequence to antibodies normally produced by humans against antigens. In addition, laboratory studies showed that this antibody has a high affinity for the CD4 antigen of helper T cells and exhibits desirable immunosuppressive activities.
 This primatized anti-CD4 antibody is now serving as the basis for collaborative efforts between IDEC Pharmaceuticals and SmithKline Beecham.
 SIGNIFICANTLY DIFFERENT FROM OTHER TYPES OF ANTIBODIES
 Primatized antibodies differ significantly from other types of antibodies. Looking at individual types of antibodies:
 -- Mouse monoclonal antibodies, which are structurally quite different from human antibodies, are the most commonly available, but they tend to trigger adverse immune reactions when used as therapies. These reactions include an anti-mouse or "HAMA" (human anti-mouse antibody) response, in which the patient's immune system produces antibodies against the intended therapeutic agent, potentially limiting its effectiveness.
 -- Chimeric or humanized (part human, part mouse) antibodies have been developed in an attempt to lessen the HAMA response. These antibody products function more naturally in the human immune system, but they too contain mouse antibody components capable of eliciting immune reactions that may reduce the therapeutic benefits.
 -- Under certain therapeutic conditions, the possible reactions to mouse or mouse-based chimeric antibodies are of minimal concern. This is particularly true with immunosuppressed patients, such as those with lymphomas, who tend to show little, if any, HAMA response. In other cases, an immune response against the antibody is necessary, since the treatment objective is to create immunity, as is the case with "therapeutic vaccines." However, with chronic diseases, which require repeated or continual therapy, reactions to mouse antibody components are a major concern, as they may limit antibody therapy.
 -- In contrast, IDEC Pharmaceuticals' primatized antibodies contain no mouse components whatsoever. Concerns about anti-mouse immune reactions are therefore eliminated, and the ability to provide antibodies that function more naturally or fully in the human immune system is potentially greater. The company has filed patent applications on its discoveries.
 -0- 10/14/92
 /CONTACT: Richard W. Krawiec, Director, Investor Relations and Corporate Communications, 619-458-0600, or Clifford Orent, Senior VP and COO, 415-940-1200, both of IDEC Pharmaceuticals; or Jeremy Heymsfeld, Director of Corporate Communications of SmithKline Beecham, 215-751-5166/
 (IDPH SBE) CO: IDEC Pharmaceuticals Corp.; SmithKline Beecham; SR One ST: California IN: MTC SU: JVN


JB-KJ -- SD001 -- 9685 10/14/92 08:45 EDT
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