Sept. 25, 2000-- Corixa Corporation (Nasdaq:CRXA - news), a research and development-based biotechnology company, and Purdue Pharma L.P., a pharmaceutical company, today announced a collaboration focused on tumor-antigen research and development.
Under the terms of the agreement, Corixa and Purdue may develop up to four therapeutic antibodies directed against cell surface antigens chosen from selected Corixa tumor-antigen discovery programs.
Corixa will provide Purdue with an opportunity to develop antibody-based therapeutics against four tumor antigens. Purdue BioPharma L.P., a research-oriented biopharmaceutical company and subsidiary of Purdue Pharma, will apply its proprietary SYNTHEBODY(TM) technology, a unique antibody engineering platform, to develop novel anti-tumor agents. Purdue will provide Corixa with guaranteed research funding, and based on the outcome of pre-clinical studies, Purdue may license the antibodies and targets from Corixa worldwide under currently defined terms that include up-front license fees, milestone payments and royalties.
``We are pleased to be working with Purdue in the area of immunotherapy for cancer. This partnership represents the latest example of our ability to leverage additional product development opportunities from our long-standing commitment to tumor antigen discovery,'' said Steven Gillis, Ph.D., chairman and chief executive officer of Corixa. ``The collaboration combines Corixa talents in the discovery of cell surface proteins that are over-expressed in cancer cells, with Purdue's antibody production and development expertise. Under the terms of the agreement, Purdue also has an option to develop small molecules that might interact with antigen targets to mediate an anti-tumor effect. This is the first time Corixa has involved small molecule rights to target antigens in a commercial relationship and represents yet another potential utility to our growing antigen library.''<b/>
The collaboration will be managed by a joint steering committee made up of representatives from both companies. The steering committee will be responsible for acceptance of Corixa antigens into the partnership, resource allocation, and orchestration of pre-clinical experimentation aimed at determining which antibodies merit potential clinical development.
``This agreement represents another significant advance in our cancer immunotherapy capabilities,'' said Dr. Paul Goldenheim, Executive Vice President for Worldwide Research and Development of Purdue Pharma L.P. ``We have chosen to partner with Corixa based on their proven track record in novel tumor marker discovery, and their commitment to immunotherapy research and development. We place a high value on this collaboration with Corixa because the successful development of Purdue's proprietary SYNTHEBODY(TM) technology into clinically meaningful anticancer products for worldwide markets is dependent upon unique targets.''
Purdue Pharma L.P., headquartered in Stamford, CT, is a privately-held pharmaceutical company engaged in the research, development, production, sale, and licensing of both prescription and over-the-counter medicines and hospital products. It is one of the fastest growing companies in the US pharmaceutical industry. Purdue's sales grew 50% in 1999 to a record $901 million, driven by its pain management product OxyContin® (oxycodone hydrochloride controlled-release) tablets. The company is a leading provider of patented prescription controlled-release medications for chronic pain and fast-acting formulations to manage acute pain. With the acquisition of CoCensys Inc. in 1999, Purdue expanded its scope into CNS discovery and development. Purdue BioPharma in Princeton, New Jersey, is a biologics therapeutics business focused on the discovery and development of antibody-based therapeutics and vaccines. Purdue Pharma is part of a privately-held international group of associated companies with operations in 18 countries, including Mundipharma companies which operate throughout Europe, Asia, Australia, and South America, Napp Pharmaceutical Group in the U.K, and Purdue Pharma of Canada. The group had worldwide sales of $1.2 billion in 1999 and employs more than 4,000 people in research, development, manufacturing, and marketing worldwide. Visit the Purdue Pharma web site at www.purduepharma.com. |
