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Biotech / Medical : AMEV-Applied Molecular Evolution -- Ignore unavailable to you. Want to Upgrade?

To: tuck who wrote (29)	1/3/2002 9:45:34 AM
From: tuck	Read Replies (1) \| Respond to of 164

AMEV had a wide ranging and somewhat off day yesterday as other confused investors tried to figure the implications of the Nature Medicine study that's been discussed in the last few posts. Today's news should help firm it a bit: >>SAN DIEGO--(BW HealthWire)--Jan. 3, 2002--Applied Molecular Evolution, Inc. (AME) (NASDAQ: AMEV - news) today announced that it has entered into a collaboration with Chiron Corporation (Chiron) (NASDAQ: CHIR - news). The goal of the collaboration is to optimize a non-antibody protein that Chiron will develop and commercialize as a novel human therapeutic. Under the terms of the agreement, AME will receive an upfront signing fee and additional payments if milestones are achieved and royalties on future sales of any products resulting from the collaboration. ``AME is pleased to collaborate with Chiron, a biotechnology company with proven drug development expertise,'' commented William D. Huse, M.D., Ph.D., Chief Executive Officer and President of AME. ``This is a significant collaboration because it highlights AME's potential to create significant functional improvements in a wide range of proteins, including both antibody and non-antibody proteins. Additionally, this agreement demonstrates continued validation by a leading protein therapeutic company of AME's leadership in the functional enhancement of biotherapeutics.''<< snip Cheers, Tuck