MLNM: 18,600 traded at 32.62 in "pre-market".
CAMBRIDGE, Mass., and NEW YORK, April 11 /PRNewswire/ -- Millennium Pharmaceuticals, Inc. (Nasdaq: MLNM - news) and BZL Biologics, L.L.C., a privately- held company, today announced they have entered into an agreement to develop and commercialize antibody-based therapeutics targeting Prostate Specific Membrane Antigen (PSMA). The development plan includes programs for both immunotoxin and radiolabeled products. On the basis of available data, PSMA is the best-established, prostate-associated, cell surface molecule. It is expressed by virtually every prostate tumor (both primary and metastatic) and the level of expression increases with tumor progression. The primary indication expected for products targeting PSMA is prostate cancer, although there is strong evidence to suggest that PSMA may also be a relevant therapeutic target in other solid tumors. Access to BZL's anti-PSMA products expands Millennium's clinical and preclinical portfolio, extends its oncology franchise, and reinforces its commitment to the development of therapeutic antibodies in the field of oncology.
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