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Biotech / Medical : XOMA. Bull or Bear? -- Ignore unavailable to you. Want to Upgrade?

To: Thomas J Pittman who wrote (6696)	7/16/1998 9:49:00 AM
From: Robert K.	Read Replies (2) \| Respond to of 17367

We have undisputed bpi patent rights >BERKELEY, Calif.--(BW HealthWire)--July 16, 1998--XOMA Corporation (NASDAQ:XOMA - news) today announced that it has signed an exclusive license with Incyte Pharmaceuticals, Inc. (NASDAQ:INCY - news) for all of Incyte's patents and patent applications relating to BPI, a human host-defense protein from which XOMA is developing a pipeline of pharmaceutical products. Incyte will receive royalties on related product sales and warrants to purchase 250,000 XOMA shares at $6.00 per share. Due to offsets against other royalties, XOMA does not anticipate an increase in its total BPI royalty payments. ''This license gives us undisputed worldwide rights to pursue BPI development without concern over existing BPI-related patents. It adds Incyte's seven patents to our BPI portfolio of 40 issued and allowed patents,'' said Jack Castello, president, chairman and CEO of XOMA Corporation. ''This is a win-win transaction that eliminates the risk of potentially expensive patent disputes as both companies move forward with our respective core businesses. It's also an important step in preparation for bringing Neuprex(TM) and our other BPI products to market.'' Before establishing its large-scale sequencing and genomics program in 1991, Incyte scientists systematically catalogued the constituent proteins of white blood cells, including BPI. Its BPI patent claims are directed to treating a variety of endotoxin-related disorders.