Abgenix and Chugai Collaborate to Develop and Manufacture Antibody Therapeutics
Monday February 3, 6:02 am ET
FREMONT, Calif.--(BUSINESS WIRE)--Feb. 3, 2003--Abgenix, Inc. (Nasdaq:ABGX - News) and Chugai Pharmaceutical (CHGCF.PK) today announced a multi-year collaboration to discover, develop and commercialize fully-human monoclonal antibody therapies. As part of the agreement, Abgenix will manufacture monoclonal antibody product candidates advanced into clinical trials by the collaboration. Financial details related to the collaboration were not disclosed, but will include an upfront technology utilization payment and a licensing fee to Abgenix.
Under the terms of the agreement, Abgenix and Chugai will each contribute up to two antigen targets to the collaboration representing diverse therapeutic areas. Abgenix will utilize its XenoMouse(TM) technology to generate, screen and characterize human monoclonal antibodies directed against each antigen target. Abgenix will also be responsible for manufacturing monoclonal antibodies against target antigens for use in clinical trials. Chugai will be responsible for commercial manufacturing in Japan, while Abgenix will be responsible for commercial manufacturing in the United States and Europe. The companies will share equally in the development and commercialization costs of all therapeutic antibody products that are designated as joint development antigens. Any future profits resulting from the collaboration will also be shared equally on a worldwide basis.
Under a separate agreement, Chugai will obtain a license to rights under patents held by Abgenix to develop and commercialize products based on parathyroid hormone-related protein (PTHrp).
"Our collaboration with Chugai leverages the full spectrum of our integrated antibody development platform including discovery, development and state-of-the-art manufacturing capabilities," said Ray Withy, Ph.D., president and chief executive officer of Abgenix. "This strategic collaboration supports our goal to become the partner of choice in discovery, development and commercialization of antibody-based therapeutics."
"We look forward to collaborating with Abgenix, a company focused on antibody therapeutics, to develop and manufacture antibody-based products," said Mr. Motoo Ueno, deputy president, member of the board of directors at Chugai Pharmaceutical. |
