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Biotech / Medical : Biotech Valuation -- Ignore unavailable to you. Want to Upgrade?


To: Biomaven who wrote (2722)1/29/2001 9:50:41 PM
From: aknahow  Respond to of 52153
 
Peter thanks. The referenced reply was also helpful. Since I had not heard of Onyx, or not remembered anything, I was wondering if Onyx-015 had any real promise or not. When the experts at S.I. are silent about something I take it as a bad sign. This brings us to your question.<g> Xoma has signed cell expression technology agreements with over 20 companies. Its filings with the SEC have left open the possibility that one type of agreement it might make could be manufacturing. Xoma was selected by DNA to run its' P I & II clinical trials. It is not clear if they are running the P III psoriasis trial or not. DNA may have taken this back in house. XOMA got 25% of gross profits of anti-cd11a for its' collaboration with DNA. Running a trial and producing a drug are not identical but they are contract services and thus IMO related.

I did not mention XOMA, originally and it was not stealth hype.<g> I had a real need to know if the agreement with Onyx was important or not. My read, for now, is that it is important.



To: Biomaven who wrote (2722)1/29/2001 9:56:10 PM
From: Biomaven  Respond to of 52153
 
The latest Rashomon installment: Two IGEN/Roche PR's this evening, so different as to be hilarious.

First from Roche:

( BW)(IN-ROCHE-DIAGNOSTICS) Roche Diagnostics/IGEN Litigation To Go Forward

Business Editors/Health & Medical Writers

INDIANAPOLIS--(BUSINESS WIRE)--Jan. 29, 2001--The U.S. District Court for the District of Maryland today ruled that the three-year-long lawsuit between Roche Diagnostics GmbH (RDG) and IGEN involving RDG's licensing of IGEN's electrochemiluminescent (ECL) technology may continue. The ruling merely allows the case to proceed; it does not suggest liability by either side.
RDG moved to dismiss several of IGEN's claims as a matter of law and for failing to follow formal pleading requirements under the federal rules. The Court held that, at this juncture, it would permit the claims to go forward.
IGEN has filed numerous claims with the court, requesting the court to permit IGEN to terminate its licensing agreement with RDG. In a separate ruling today, however, the court ruled that the only relief to which IGEN would be entitled on its claims based upon RDG's sale of non-ECL based diagnostic products - even assuming it could successfully prove the allegations of those claims - would be a finding that the exclusive license rights granted to RDG in the agreement would become non-exclusive. The court's ruling will not permit IGEN to terminate the agreement on these claims or to seek any additional damages related to these claims.
The Court dismissed RDG's claim that IGEN is tortiously interfering with RDG's business relations through the initiation and continuance of IGEN's lawsuit against Hitachi Ltd., RDG's subcontractor in Japan. The dismissal was expressly made without prejudice to RDG's right to replead the claim, if warranted, upon termination of that lawsuit.
RDG and IGEN have been in litigation since September 1997 about claims arising from the License and Technology Development agreement the two companies entered into in 1992.
"When this case finally goes to trial, we fully expect the court will find in our favor," said Werner Schaefer, head of the systems business unit of RDG. "We are considering other motions that could bring this case to a close."
RDG has several claims pending against IGEN, including claims for breach of contract, which IGEN has not moved to dismiss. IGEN has filed a motion for summary judgment on RDG's claim for fraud against IGEN, which is being briefed and will be heard in March.

Headquartered in Basel, Switzerland, Roche is one of the world's leading research-oriented healthcare groups in the fields of pharmaceuticals, diagnostics and vitamins. Roche's innovative products and services address needs for the prevention, diagnosis and treatment of disease, thus enhancing people's well-being and quality of life. Roche has approximately 63,900 employees and sells its products in more than 170 countries. Through the company's Diagnostics Division, innovative testing products and services are made available to physicians, patients, hospitals and laboratories worldwide.

--30--cee/cgo*

CONTACT: Roche Diagnostics
Dr. Marianne Gretz, +49 621 759 23 24
Marianne.Gretz@Roche.com
or
Edelman PR Worldwide
Jim Herlihy, 312/240-3389
Jim.Herlihy@Edelman.com


And now comes IGEN:

IGEN Prevails on Motions in Litigation Against Roche

Trial Date Set for October 23, 2001

GAITHERSBURG, Md., Jan. 29 /PRNewswire/ -- At a pretrial hearing in
litigation brought by IGEN International, Inc. (NASDAQ:IGEN) against Roche
Diagnostics GmbH, the U.S. District Court for the District of Maryland today
cleared the way for IGEN to proceed with all 14 of the claims presently in the
lawsuit. Further, in ruling on IGEN's only motion to dismiss argued today,
the Court dismissed Roche's tortious interference counterclaim and disallowed
Roche's request for injunctive relief. Finally, the Court set a trial date of
October 23, 2001.
Today's hearing was held in response to Roche's motions to dismiss the
lawsuit and to dispose of several specific counts that IGEN has leveled
against Roche. The lawsuit alleges that Roche engaged in unfair competition
and breached a licensing agreement granting Roche rights to use IGEN's
proprietary ORIGEN(R) technology in specified fields of clinical diagnostic
testing. The four claims that withstood today's motions make the following
allegations:

(1) Roche has commercialized product lines that compete in a material way
with Roche's ORIGEN-based systems.

(2) Roche has failed to develop and market ORIGEN-based DNA probe assays
in violation of the agreement.

(3) Roche breached the agreement by failing to market a competitive menu
of ORIGEN-based assays.

(4) Roche engaged in unfair competition by engaging in a deliberate
course of conduct that caused IGEN competitive business injury.

The Court's rulings today upheld IGEN's right to seek punitive damages and
termination of the licensing agreement as possible remedies. As to one claim,
the Court ruled that the appropriate remedy for breach would be to revoke
Roche's exclusivity under the license. If the Court ultimately determines
that IGEN is entitled to immediately terminate the agreement, IGEN would be
free, after final decision on any appeal, to enter into agreements with other
potential partners.
In addition to the four claims that survived today's motions to dismiss,
IGEN is alleging other contract breaches and charging Roche with violating its
duty of good faith and fair dealing. The additional contract claims allege
that Roche has failed to perform certain material obligations, including
proper computation and payment of royalties, maintenance of records essential
to the computation of royalties, exploitation of ORIGEN technology only in
Roche's licensed fields, development and commercialization of the technology
according to a contractual timetable, and proper treatment of IGEN's
intellectual property rights. On the issue of out-of-field exploitation, IGEN
has already won a preliminary injunction, which was upheld on appeal.

IGEN develops and markets biological detection systems based on its
proprietary ORIGEN technology, which can assay a wide range of substances,
including small molecules, proteins, nucleic acids, and microorganisms. This
technology provides a unique combination of sensitivity, reliability, speed,
and flexibility. ORIGEN-based systems are marketed by IGEN and its licensees
and/or distributors -- Roche Diagnostics; Organon Teknika; Eisai Co., Ltd.;
Sumitomo Corp.; and Sanko Junyaku Co., Ltd. More information about the
company can be found at igen.com .

<snip>

SOURCE IGEN International, Inc.
-0- 01/29/2001
/CONTACT: Stephen Push of IGEN International, 301-869-9800, ext. 2158; or
investors, Jonathan Fassberg of The Trout Group, 212-477-9007, ext. 16; or
media, Paul Caminiti of Citigate Sard Verbinnen, 212-687-8080, both for IGEN/
/Web site: igen.com;