Feb. 26 /PRNewswire/ -- Medarex, Inc. (Nasdaq: MEDX - news) and Biosite Diagnostics Incorporated (Nasdaq: BSTE - news) and Eos Biotechnology, Inc. today announced a collaboration to generate antibodies to genomics-derived targets. In this multi-year alliance, Eos expects to employ high-affinity Omniclonal(TM) antibodies developed from Biosite and Medarex's Trans-Phage Technology(SM) in research to attempt to validate novel genomic-derived antibody targets and/or identify promising product candidates for the treatment of cancer.
Under the collaboration, Biosite expects Eos to provide tens of targets over three years. Biosite will receive certain diagnostic rights to targets. In addition, Biosite will receive from Eos development fees, annual target maintenance fees, milestone fees upon the achievement of certain milestones and royalties from successful products resulting from the joint research efforts. Medarex expects to receive payments from Eos pursuant to its existing agreement with Eos.
``We are pleased to expand our relationship with Eos to include Trans-Phage Technology. We believe that Eos' ability to generate genomics-derived targets will accelerate the development of therapeutic products,'' said Donald L. Drakeman, President and CEO of Medarex.
``Biosite and Medarex have already developed multiple antibodies to one of our proprietary targets, and we believe that the advantage of Trans-Phage Technology will accelerate our research and development of therapeutics,'' said Richard Murray, Ph.D., Eos vice president of biological research.
In June 2000, Biosite and Medarex announced the formation of an alliance aimed at accelerating drug research via Trans-Phage Technology. This high throughput method of creating fully human antibodies combines the immunological power of Medarex's HuMAb-Mouse® with the speed and breadth of Biosite's Omniclonal(TM) phage display technology. The companies believe that the combination of these technologies enables rapid production and efficient recovery of high-affinity, highly diverse antibodies, which can be used in research to attempt to validate genomics targets and/or identify promising product candidates for commercialization.
Eos and Medarex have been collaborating since 1999 on the generation of fully human antibodies for Eos therapeutic targets. In 2000, they expanded the relationship to include a co-development and joint commercialization program.... |
