Tuesday January 18, 8:00 am Eastern Time
Company Press Release
SOURCE: Abgenix, Inc.
Abgenix and Gliatech Enter XenoMouse Technology
Collaboration
FREMONT, Calif., Jan. 18 /PRNewswire/ -- Abgenix, Inc. (Nasdaq: ABGX - news) signed a research license and option
agreement with Gliatech Inc. (Nasdaq: GLIA - news) under which Gliatech will use Abgenix' XenoMouse(TM) technology to
generate fully human monoclonal antibodies to the complement protein properdin for use in the fields of cardiovascular and
inflammatory diseases. In return, Abgenix will receive a technology access payment and could receive additional fees and
milestone payments plus royalties on future product sales by Gliatech. Gliatech will be responsible for product development,
manufacturing, and marketing of any products developed through the collaboration.
''Abgenix is pleased to be collaborating with Gliatech on an exciting target in the fields of cardiovascular and inflammatory
diseases,'' stated R. Scott Greer, president and chief executive officer of Abgenix. ''Gliatech becomes our seventeenth
XenoMouse partner, the fifth in the last two months.''
''Gliatech will develop this proprietary monoclonal antibody that will be useful in a variety of indications, such as coronary
bypass surgery, myocardial infarction, stroke and rheumatoid arthritis,'' said Thomas O. Oesterling, Ph.D., Chairman and Chief
Executive Officer of Gliatech Inc. ''This is an important program that will expand Gliatech's biosurgery business.''
Abgenix is a biopharmaceutical company that develops and intends to commercialize antibody therapies for the treatment of
such conditions as transplant-related diseases, inflammatory and autoimmune disorders, cardiovascular disease, infectious
disease, and cancer. Abgenix developed XenoMouse technology to enable the rapid generation of high affinity, fully human
antibody product candidates to essentially any disease target appropriate for antibody therapy. Abgenix has collaborative
arrangements with multiple pharmaceutical and biotechnology companies involving its XenoMouse technology. In addition,
Abgenix has multiple proprietary antibody product candidates under development internally, three of which are in human clinical
trials.
Gliatech is a leader in the discovery and development of therapeutic products based on the properties of glial cells. The
Company applies its core glial research to developing innovative products for major unmet human health care needs. Current
development initiatives are targeting products to improve surgical outcomes and to treat neurological disorders.
Statements made in this press release about Abgenix' XenoMouse(TM) technology, product development activities, and
collaborative arrangements other than statements of historical fact, are forward looking statements and are subject to a number
of uncertainties that could cause actual results to differ materially from the statements made, including risks associated with the
success of clinical trials, the progress of research and product development programs, the regulatory approval process,
competitive products, future capital requirements and the extent and breadth of Abgenix' patent portfolio. Please see Abgenix'
public filings with the Securities and Exchange Commission for information about risks that may affect Abgenix.
SOURCE: Abgenix, Inc. |
