MEDAREX/ZYMOGENETICS TO DEVELOP ANTIBODY THERAPEUTICS.
Under the terms of the agreement, ZymoGenetics is responsible for the development and commercialization of human antibody products resulting from this alliance. Medarex expects to receive license fees and milestone payments as well as royalties on commercial sales of products resulting from the alliance with ZymoGenetics.
"ZymoGenetics' expertise in the area of genomics and its proven track record of marketed products derived from its work offer a good match for our human antibody technology. This alliance is another example of how we can combine our technology with the discoveries brought forth by the genomics revolution to advance the development of therapeutic products," said Donald L. Drakeman, President and CEO of Medarex.
"Monoclonal antibodies, a key class of therapeutic proteins, have emerged as one of the most important and most valuable medical advances pioneered by the biotechnology industry," said Bruce L. A. Carter, Ph.D., president and CEO of ZymoGenetics. "Through this collaboration with Medarex, ZymoGenetics gains access to one of the world's leading platforms for generation of fully human antibody therapies. Together with our own capabilities for genomics-based therapeutic protein discovery, we expect this alliance to rapidly yield a number of promising new monoclonal antibody candidates."
ZymoGenetics is a leading biopharmaceutical company focused on the discovery and development of protein therapeutics that prevent or treat significant human diseases. ZymoGenetics is currently leveraging its expertise in genomics and bioinformatics to generate a broad pipeline of proprietary product candidates. The company has also established a strong patent portfolio in protein therapeutics, which it plans to commercialize through internal development and pharmaceutical collaborations. ZymoGenetics, headquartered in Seattle, Washington, currently serves as the primary US discovery arm of Novo Nordisk A/S and has recently announced plans to become an independent company. For further information please visit www.zymogenetics.com.
Novo Nordisk A/S is the world leader in insulin and diabetes care and also manufactures and markets a variety of other pharmaceutical products. Furthermore, the company is the world's largest producer of enzymes for industrial use. Headquartered in Denmark, Novo Nordisk employs approximately 16,200 people in 68 countries and markets its products in 179 countries. Its B shares are listed on the stock exchanges in Copenhagen and London. Its ADSs are listed on the New York Stock Exchange under the symbol "NVO." A demerger of Novo Nordisk with the intention to spin off the Enzyme Business into a separately listed company is expected to take place following an extraordinary general meeting in mid-November. For further company information, visit Novo Nordisk on the World Wide Web at http://www.novo.dk.
Medarex is a biopharmaceutical company developing monoclonal antibody-based therapeutics to fight cancer and other life-threatening and debilitating diseases. Medarex has assembled a broad platform of patented technologies for antibody discovery and development, including the HuMAb-Mouse[registered] and TC Mouse(tm) systems for the creation of high-affinity, fully human antibodies; T-12 DevelopmentSM offering the potential to move from target to trial in approximately 12 months; and Trans-Phage TechnologySM combining high throughput screening with fully human antibody development. Medarex creates and develops fully human antibodies for itself and others, offering a full range of antibody development capabilities, including pre-clinical and clinical manufacturing services.
For more information, visit http://www.medarex.com or call 212/699-2541.
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|Date:||Dec 1, 2000|
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