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Biotech / Medical : Celltech Group (NYSE: CLL) -- Ignore unavailable to you. Want to Upgrade?

To: keokalani'nui who wrote (40)	5/17/2002 3:37:00 AM
From: nigel bates	Read Replies (1) \| Respond to of 123

Embargoed for release at 7.00am 17th May 2002 CELLTECH GROUP PLC Celltech Reaches Worldwide Agreement with Amgen on Research, Development and Commercialisation of Novel Treatments for Osteoporosis Slough, United Kingdom (May 17, 2002) - Celltech Group plc (LSE: CCH; NYSE: CLL) today announced an agreement with Amgen (Nasdaq: AMGN) for the research, development and global commercialisation of novel treatments for osteoporosis, utilising Celltech's proprietary antibody fragment technology. Osteoporosis is a degenerative bone disease estimated to affect one-third of women aged 60 to 70, and two-thirds of women aged 80 or older. Current treatments primarily halt loss of bone density, but do not reverse the effects of osteoporosis. Through extensive genetic research carried out at its Seattle research centre, Celltech has identified a protein involved in the regulation of bone deposition. It is believed that by inhibiting this protein, known as Sclerostin, with a high affinity antibody fragment, bone loss in osteoporosis patients may be reversed. Key terms of the agreement are as follows: * Amgen receives exclusive worldwide rights to develop and market treatments targeting the Sclerostin protein. * Celltech will be responsible for the identification and engineering of high affinity PEGylated antibody fragments against the Sclerostin protein, using its proprietary antibody fragment technology * Celltech will pay a proportion of all development costs up until the end of Phase II. * Amgen will be responsible for worldwide development. * At the start of Phase III, Celltech has the option to co-invest in late stage development and will then lead promotional activities in the European Union. Amgen will lead promotion in North America and Japan. Alternatively, at Celltech's option, Amgen will become the exclusive licensee for this program and will continue to develop and market products against the Sclerostin protein on a worldwide basis. Celltech would then receive royalties based on sales achieved by Amgen. The Sclerostin programme is currently in late stage research, involving validation and antibody generation activities. It is currently envisaged that an antibody fragment will be entered into development during 2003. Dr. Peter Fellner, Chief Executive Officer of Celltech, commented, 'We are delighted to be working with Amgen, the world's largest and most successful biotechnology company. Amgen's expertise in bone biology, in addition to its marketing and development strengths, will enable Celltech to fully realise the value from this promising programme.'