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Biotech / Medical : MEDX ... anybody following? -- Ignore unavailable to you. Want to Upgrade?

To: Icebrg who wrote (755)	10/27/2003 4:58:05 AM
From: nigel bates	Respond to of 2240

Roche and Genmab reach second milestone in collaboration Basel, Switzerland, and Copenhagen, Denmark, October 27 /PRNewswire/ -- - Summary: Second Genmab antibody achieves proof of concept in Roche collaboration. F. Hoffmann-La Roche (Roche) and Genmab A/S announced today that Genmab (Copenhagen GEN.CO - news) has achieved a second milestone in their collaboration, having reached the proof of concept stage with a human antibody generated by Genmab. This is the second antibody program in the alliance to reach this critical stage. "With this milestone we continue to move forward in our partnership with Roche," said Lisa N. Drakeman, Ph. D., Chief Executive Officer of Genmab. "We are pleased with the way our collaboration is progressing." The relationship, entered into in May, 2001, has proven positive for both companies and the results have been quicker than anticipated. "When Roche and Genmab began working together, we had identified a number of targets to pursue. Since then, the partnership has expanded to include several times as many targets," explained Klaus Strein, Roche's Head of Penzberg Pharma research Facility. Under the agreement, Genmab utilises its broad antibody expertise and development capabilities to create human antibodies to a broad range of disease targets identified by Roche. Roche has a proven successful track record in developing biologicals as innovative new products. Genmab receives milestone and royalty payments based on successful products. In certain circumstances, Genmab may obtain rights to develop products based on disease targets identified by Roche. If all goals are reached, the value of the collaboration to Genmab could be US$100 Million, plus royalties. Roche Business Development and Alliance Strategy Roche is a distinctive alliance partner with expertise in identifying cutting-edge innovation that can lead to new and improved medicines. Since January 2002, Roche has formed over 45 new partnerships which span a wide range of therapeutic areas and technologies, making it an industry leader. Through its alliance strategy, Roche creates value with its partners by transforming these business transactions into productive relationships that allow for mutual growth and expansion. As evidence of this development plan, in just eight months, Roche and its partners have renewed or broadened eight ongoing alliances. Roche is committed to an alliance strategy that enables its partners to achieve their vision while maintaining their cultural identity and entrepreneurial spirit. Conference call Genmab's Management will hold a conference call to discuss the news today, October 27 2003 at: 4:00 pm CET 3:00 pm BST 10:00 am US Eastern Time The dial in numbers are as follows: 1-800-915-4836 (in the US) and ask for the Genmab conference call 1-973-317-5319 (outside the US) and ask for the Genmab conference call The conference call will be held in English.

To: Icebrg who wrote (755)	10/30/2003 6:18:04 AM
From: Icebrg	Read Replies (1) \| Respond to of 2240

Medarex and Avalon Announce Antibody Deal Thursday October 30, 6:01 am ET PRINCETON, N.J., and GERMANTOWN, Md., Oct. 30 /PRNewswire-FirstCall/ -- Medarex, Inc. (Nasdaq: MEDX - News) and Avalon Pharmaceuticals, Inc. have entered into an agreement under which the two companies will collaborate on the planned development of antibody products. Under the agreement, the two companies expect to share equally the cost and responsibility of the development of antibody products. In addition, the two companies plan to jointly commercialize any antibody products resulting from this collaboration. Using its industrialized cytogenetics and gene-expression platforms, Avalon has identified targets representing what it believes are the key genes that are over-expressed and amplified in cancers. Medarex plans to use its UltiMAb Human Antibody Development System(SM) to generate antibodies to the identified disease targets. Avalon and Medarex intend to develop these antibodies for therapeutic intervention. "Avalon is pleased to be partnering with Medarex, a proven leader in the field of monoclonal antibody therapeutics," said Ken Carter, President and CEO of Avalon Pharmaceuticals. "Our systematic approach to target discovery has produced a large pipeline of novel oncology targets, and we believe that this collaboration with Medarex will accelerate the development of these targets into antibody-based oncology therapeutics." "We look forward to pairing Avalon's target identification technology with our UltiMAb(TM) system for the generation of novel therapeutic antibodies," said Donald L. Drakeman, President and CEO of Medarex. . . . About Avalon Pharmaceuticals Avalon Pharmaceuticals utilizes unique and proprietary forward chemical genomics-based methods to accelerate the discovery of novel targets and drugs. Avalon's unique capabilities in cytogenetics and gene expression analysis allow Avalon to rapidly discover and validate novel oncology targets. For the discovery of small molecules Avalon utilizes a comprehensive systems approach, enabling more informed decisions at earlier stages in the drug discovery process. These innovative techniques allow for the rapid identification of lead compounds through an enriched understanding of the mechanism of action within diseased cells, leading to accelerated medicinal chemistry driven lead optimization programs and clinical development. This revolutionary systems approach is applicable across multiple disease areas. Currently, Avalon is focusing its efforts to produce the next generation of cancer medicines. For more information please visit www.avalonrx.com. Avalon Pharmaceuticals was established in 1999 and is headquartered in Germantown, Maryland.