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Biotech / Medical : Corixa [CRXA] - cancer vaccines -- Ignore unavailable to you. Want to Upgrade?

To: sim1 who wrote (139)	3/18/2002 9:31:57 PM
From: SemiBull	Read Replies (1) \| Respond to of 222

Corixa and Ortho-Clinical Diagnostics Collaborate to Discover and Develop Breast Cancer Diagnostics SEATTLE & RARITAN, N.J.--(BW HealthWire)--March 18, 2002--Corixa Corporation (Nasdaq:CRXA - news), and the Advanced Diagnostic and Cellular Systems (ADCS) division of Ortho-Clinical Diagnostics (OCD), a Johnson & Johnson company today announced a collaboration to develop molecular diagnostic tests for breast cancer based on several of Corixa's proprietary genes that have originated from Corixa's ongoing discovery program. Under the terms of the agreement, Corixa grants Ortho-Clinical Diagnostics exclusive worldwide rights to use its breast cancer genes in nucleic acid diagnostics applications. In return, Ortho-Clinical Diagnostics/ADCS will provide Corixa with up front license fees, research funding, milestone payments and royalties based on future product sales. Further details of the agreement were not disclosed by either party. ``We are pleased to be working with the new ADCS division of Ortho-Clinical Diagnostics to develop diagnostics for the detection of breast cancer,'' said Steven Gillis, Ph.D., chairman and chief executive officer of Corixa. ``The collaboration combines Corixa's expertise in the discovery of genes and antigens that are over-expressed in cancer cells, with OCD's proven diagnostic development and marketing capabilities. This partnership represents the latest example of our ability to leverage additional product developments from our long-standing commitment to cancer gene discovery and research.'' ``This represents another important step by OCD's Advanced Diagnostic and Cellular Systems division toward the development of molecular diagnostic assays with demonstrated clinical utility,'' said Gerard Vaillant, chairman of the Diagnostics business. ``The extent of Corixa's gene marker validation work will allow us to immediately begin product development and we look forward to receiving other well characterized breast cancer genes arising from Corixa's discovery program,'' said Roy Davis, President of the ADCS division. About Corixa Corixa is a developer of immunotherapeutics with a commitment to treating and preventing autoimmune diseases, cancer and infectious diseases by understanding and directing the immune system. Corixa is focused on immunotherapeutic products and has a broad technology platform enabling both fully integrated vaccine design and the use of its separate, proprietary product components on a standalone basis. Corixa currently has 18 programs in clinical development and 22 programs in preclinical development. The company partners with numerous developers and marketers of pharmaceuticals, targeting products that are Powered by Corixa(TM) technology with the goal of making its potential products available to patients around the world. Corixa was founded in 1994 and is headquartered in Seattle, Washington, with additional operations in Hamilton, Montana and South San Francisco, California. For more information, please visit Corixa's Web site at www.corixa.com or call the company's investor relations information line at 1.877.4CORIXA or 1.877.426.7492. About Ortho-Clinical Diagnostics Ortho-Clinical Diagnostics, a Johnson & Johnson Company, is a leading provider of high- value diagnostic solutions for the global health care community. Committed to developing the most advanced tests for early detection or diagnosis of disease, the Company brings products to market that provide timely information and help to facilitate better medical decisions. The Advanced Diagnostic and Cellular Systems division is focused on high impact products in the field of human cancer diagnosis, monitoring, screening and patient management. Health care professionals worldwide rely on Ortho-Clinical Diagnostics for innovative diagnostic solutions that promote effective diagnoses and enhance patient care. For more information visit www.orthoclinical.com. Forward-Looking Statements Except for the historical information presented, certain matters discussed in this press release are forward-looking statements. Forward-looking statements are based on the opinions and estimates of management at the time the statements are made. They are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Factors that could affect Corixa's actual results include, but are not limited to failure of the licenses to Ortho-Clinical Diagnostics to lead to any commercially available products and the ``Factors Affecting Our Operating Results, Our Business and Our Stock Price,'' described in Corixa's Quarterly Report on Form 10-Q for the quarter ended September 30, 2001, copies of which are available from Corixa's investor relations department. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. -------------------------------------------------------------------------------- Contact: Corixa Corporation Jim DeNike, 206/754-5716 denike@corixa.com or Waggener Edstrom Jenny Moede, 503/443-7000 jmoede@wagged.com or Ortho-Clinical Diagnostics Mary Richardson, 908/704-3652 mrichar@ocdus.jnj.com