Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : Abgenix, Inc. (ABGX) -- Ignore unavailable to you. Want to Upgrade?

To: sim1 who wrote (68)	1/8/2002 7:44:06 PM
From: SemiBull	Read Replies (1) \| Respond to of 590

Abgenix aims for clinical trials of 2 more drugs SAN FRANCISCO, Jan 8 (Reuters) - Abgenix Inc. (NasdaqNM:ABGX - news), which uses genetically engineered mice to produce humanized antibodies for cancer and other diseases, aims to launch human clinical trials of two more therapies this year, Chief Operating Officer Raymond Withy told investors on Tuesday. Withy, who will replace Scott Greer as the company's chief executive around mid-year, said Abgenix is financing its research pipeline with revenue from licenses to its technology. Speaking at the JP Morgan H&Q Healthcare Conference, Withy said that besides its own antibodies, Abgenix expects another three that it has licensed to other companies to enter clinical trials this year. By 2003, it expects a total of 18 proprietary and licensed antibodies to be in human clinical trials, he said. Abgenix said on Tuesday it asked the U.S. Food and Drug Administration for permission to begin a Phase 1 trial of its experimental antibody ABX-MA1 in patients with a serious form of skin cancer. Phase 1 is the first of three stages of trials generally required by regulators before a drug can be approved. The company expects to announce its first Phase 2 trial results for ABX-EGF, an antibody being studied as a treatment for solid tumor cancers, at a medical meeting in May. The study of the drug in renal cell cancer is one of five Phase 2 trials of ABX-EGF Abgenix is conducting with drug development partner Immunex Corp. (NasdaqNM:IMNX - news). Other studies include prostate cancer and colorectal cancer. Withy said it is still too early to tell whether the planned acquisition of Immunex by Amgen Inc. (NasdaqNM:AMGN - news) would affect the co-development deal for ABX-EGF. ``The rubber will meet the road in the fall when we start planning the annual budget,'' he said. ``We have a very close working relationship with Immunex. We also know Amgen very well -- they know how to develop products.'' Abgenix recently announced disappointing results from a midstage trial of another promising antibody, ABX-IL8, in rheumatoid arthritis. This prompted the company to give up studying it for arthritis, although trials for other diseases are continuing. ``This is an inherent part of our business model,'' Withy said. ``We want to perform robust Phase 2a studies to evaluate whether to move forward.'' ABX-IL8 is an antibody designed to block the activity of interleukin-8, a protein involved in several diseases. Abgenix expects to announced results from a Phase 2b trial of ABX-IL8 in psoriasis patients by the end of the second quarter. ``We do not believe it is possible to extrapolate trial results from one indication to another,'' Withy said. He estimated broadly that ABX-EGF could move to commercialization in 2004, while the earliest possible launch for ABX-IL8 would be in 2005 or 2006.