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Biotech / Medical : Abgenix, Inc. (ABGX)
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From: Icebrg1/10/2005 7:30:01 AM
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Abgenix Receives Milestone Payment from Human Genome Sciences for Advancement of CCR5 Antibody Product Candidate
Monday January 10, 7:10 am ET
Ninth XenoMouse Antibody Advances to the Clinical Phase

FREMONT, Calif.--(BUSINESS WIRE)--Jan. 10, 2005--Abgenix, Inc. (Nasdaq: ABGX - News) announced today that it has received a milestone payment triggered by Human Genome Sciences' filing of an Investigational New Drug application (IND) with the U.S. Food and Drug Administration (FDA) for a fully human monoclonal antibody to the CCR5 receptor (CCR5 mAb) created using Abgenix's proprietary XenoMouse® technology.

"Human Genome Sciences is the fourth of our technology licensing partners to advance an antibody from our proprietary technology to the clinical stage," said Bill Ringo, president and chief executive officer of Abgenix. "We are pleased to see the continued progress of these types of collaborations, which provide potential future milestones and revenues to Abgenix."

The CCR5 receptor is a co-receptor on the cell surface that, together with CD4, mediates the binding of HIV and its entry cell. CCR5 mAb is designed to bind to and block the CCR5 receptor, which would prevent the entry of HIV into immune system cells. Preclinical results show that CCR5 mAb binds to the CCR5 receptor and can neutralize HIV replication in vitro.

Human Genome Sciences generated the CCR5 mAb using the Abgenix XenoMouse® technology. In May 2003, Abgenix granted Human Genome Sciences a license to develop and commercialize the CCR5 mAb. Under the terms of the agreement Abgenix may receive additional clinical development milestone payments and royalties on any future product sales. CCR5 mAb is manufactured by Human Genome Sciences.
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