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Biotech / Medical : MEDX ... anybody following?
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To: Icebrg who wrote (792)3/19/2004 5:11:44 AM
From: Icebrg   of 2240
 
ROCHE SELECTS TWO GENMAB ANTIBODIES AS CLINICAL CANDIDATES

Summary: Roche has selected two Genmab antibodies as clinical candidates for two different disease areas.

Copenhagen, Denmark; March 19, 2004 –Genmab A/S (CSE: GEN) announced today Roche has selected two Genmab antibodies as candidates for clinical development. The antibodies, developed under a collaboration between Roche and Genmab which began in May 2001, are each designed to target a different disease area.

“The selection of these antibodies as clinical candidates underlines Genmab’s skill in producing antibody product candidates as well as Roche’s ability to identify valid disease targets,” said Lisa N. Drakeman, Ph.D., Chief Executive Officer of Genmab. “Our partnership with Roche continues to be fruitful.”

Under the agreement, Genmab utilizes its broad antibody expertise and development capabilities to create human antibodies to a broad range of disease targets identified by Roche. Roche has a proven successful track record in developing biologicals as innovative new products. Genmab receives milestone and royalty payments based on successful products. In certain circumstances, Genmab may obtain rights to develop products based on disease targets identified by Roche. If all goals are reached, the value of the collaboration to Genmab could be $100 million, plus royalties.
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