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Biotech / Medical : CuraGen (CRGN) -- Ignore unavailable to you. Want to Upgrade?

To: Jim Oravetz who wrote (284)	5/2/2002 9:07:38 AM
From: nigel bates	Respond to of 478

CuraGen and Abgenix Scientists Develop Fully Human Monoclonal Antibodies to PDGF D NEW HAVEN, Conn., May 2 /PRNewswire-FirstCall/ -- CuraGen Corporation (Nasdaq: CRGN - news), an integrated, genomics-based pharmaceutical company, announced today that CuraGen and Abgenix scientists have successfully developed highly-specific, fully human monoclonal antibodies (mAbs) that precisely bind to PDGF D, a member of the Platelet-Derived Growth Factor (PDGF) family. Importantly, these antibodies are specific to PDGF D and do not bind to other members of the PDGF family. PDGF D is a newly discovered growth factor that has proliferative activity on a wide variety of cells that express PDGF receptors. Recently, CuraGen demonstrated that PDGF D is associated with a number of diseases in the areas of oncology and inflammation. Thus, antagonism of PDGF D through the use of fully human mAbs is a potentially important method for treating unmet diseases in oncology and inflammation. These antibodies, as well as the role of PDGF D in oncology, are revealed in the May 1, 2002 issue of Cancer Research, a publication of the American Association for Cancer Research. An online abstract of the paper is accessible on the Internet at cancerres.aacrjournals.org. PDGF D was shown to be dysregulated in cancers and cause tumor formation when inappropriately expressed in an in vivo disease model. The publication also describes the generation by Abgenix of fully human mAbs to PDGF D. Using these mAbs, a test was developed by Abgenix to show that a high percentage of cancer patients had elevated levels of PDGF D circulating in their sera. Thus, use of this test can help determine the optimum clinical patient population that should receive a therapeutic PDGF D mAb drug. "At CuraGen, we have systematically analyzed the human genome and have identified a number of previously undiscovered genes that correlate with disease progression and have applicability as new antibody targets. PDGF D is an example of a protein that we discovered which is associated with a number of diseases in the areas of oncology and inflammation. We continue to make progress in understanding the role of PDGF D in disease and are developing neutralizing mAbs against this target for therapeutic use. The development of PDGF D mAbs is an important example of one of the 17 mAbs we are currently evaluating with Abgenix," stated Henri Lichenstein, Ph.D., Director of Drug Development for CuraGen Corporation. CuraGen's proteins, antibody and small molecule drug targets are derived from the Company's proprietary database of over 8200 pharmaceutically tractable genes and proteins. The world's existing drugs were developed based upon 350 gene-based targets. To date, CuraGen scientists have identified and are evaluating new gene-based targets that include 131 proteins, 226 antibody targets, and 261 small molecule targets. CuraGen scientists are developing a pipeline of products across four disease areas including obesity and diabetes, cancer, inflammatory diseases, and central nervous system disorders. This pipeline includes a portfolio of potential protein, antibody, and small molecule therapeutics to treat previously unmet medical needs. By utilizing disease models, human clinical specimens, drug response models, large-scale data mining of proprietary sequence and pathway databases, and human genetics, CuraGen scientists have initiated 193 drug development projects. Of these projects, CuraGen scientists have identified 67 potential protein therapeutics and have advanced five as validated candidates. In the area of antibody development, CuraGen has elected 96 antibody targets with Abgenix, and is evaluating 17 fully human monoclonal antibodies as potential therapeutics. Lastly, CuraGen's understanding of the human genome and genetic basis of disease has enabled CuraGen and Bayer scientists to initiate 30 small molecule target projects and successfully complete screening against six of these targets...

To: Jim Oravetz who wrote (284)	5/30/2002 11:54:10 AM
From: Jim Oravetz	Read Replies (1) \| Respond to of 478

Region's biotech boom could bring bad news Luther Turmelle, Register Business Editor May 27, 2002 The foundation of Connecticut's gleaming high tech economy developed la few cracks last week. Companies in two segments of the technology-driven economy that the state promotes so aggressively — biotechnology and pharmaceuticals — served up some old fashioned bad news Wednesday. First, drugmaker Bayer Corp. said it plans to cut between 400 and 500 jobs at its West Haven facility through the end of next year. The company — which laid off 125 people before the ink on the press releases had dried — said it will phase out its manufacturing and packaging operations in Connecticut by the end of 2003, moving part of it to Kansas. Shortly after Bayer made its announcement, New Haven-based biotechnology firm CuraGen announced it was delaying its plans to move to Branford for a year. The biotechnology firm, which develops pharmaceuticals based on gene research, had originally planned to break ground on the project this summer. CuraGen wants to consolidate its facilities in New Haven and Branford into one campus. Now, the company will begin work on the Branford facility in the summer of 2003. Given the still uncertain climate for raising capital — where there are no longer any slam-dunks when it comes to attracting investors' money — "the move was a prudent one," said Victor Budnick, president and executive director of Connecticut Innovations. The Rocky Hill-based quasi-public agency has supplied venture capital that has fueled much of the New Haven area's biotech boom. Conventional wisdom about Bayer's pulling manufacturing out of West Haven says it was largely because of last year's decision to pull the company's drug Baycol off the market. Baycol was packaged in West Haven. Still, it's easy to panic and think our economic sky is falling. After all the state and various entities do a good job promoting the positives of a technology driven economy in Connecticut. The slick brochures and catchy radio advertisements accentuate the positives of the state being a tech haven, especially the part about high-paying jobs. But in all the glitz and gladness about how Connecticut's economy has shifted from old school manufacturing to the so-called "knowledge-driven economy," it's easy to lose sight that no industry is immune from declines. The fallout from Wednesday's news in these parts was swift. So was the finger pointing at what was the real reason for our misfortune. State lawmakers from West Haven blamed Bayer executives and suggested they ought to take pay cuts. Harry Armstrong, a Register reader from West Haven who-e-mailed me, blamed what he called "the tax hell known as Connecticut." But Budnick, who is an old hand at the ebb and flow of the tech game, urges patience and a little common sense. "I don't think we should be in a race to the bottom," Budnick said, referring to those who would try to dramatically overhaul the state's tax structure in an effort to compete with less costly part of the country. He favors having Connecticut focus on technology-driven niches in the manufacturing sector. "You want niche manufacturing that matches up well with our highly educated workforce," he said. Budnick also stressed the importance of diversification of companies within technology sector, which is a point well taken. In our rush to anoint biotechnology as New Haven's economic savior, we would do well to remember what over-reliance on the insurance and defense industries did to this state during the last recession. A region that lives by biotech could very well see itself die by biotech if we're not careful. Luther Turmelle's column appears weekly. He can be reached at lturmelle@nhregister.com or at 789-5751.