Contact:
Kurt Leutzinger
Vice President and
Chief Financial Officer
Abgenix Inc.
(510) 608-6575
and
Marion E. Glick
Porter Novelli
212/601-8273
Arthur Mandell
Senior Vice President, Corporate and Business Development
Human Genome Sciences
301/309-8504
and
Kate de Santis
Director, Corporate Communications and Investor Relations
Human Genome Sciences
301/251-6003
HUMAN GENOME SCIENCES AND ABGENIX ENTER A BROAD COLLABORATION TO CREATE FULLY HUMAN ANTIBODY THERAPEUTICS
ROCKVILLE, MARYLAND and FREMONT, CALIFORNIA-- December 1, 1999 -- Human Genome Sciences, Inc. (Nasdaq: HGSI) and Abgenix, Inc. (Nasdaq: ABGX) announced today a broad collaboration and technology exchange to identify dozens of novel human antibody drug candidates for development and commercialization.
Under this multi-year agreement, HGS has the right to use Abgenix's XenoMouse (TM) technology to generate fully human antibody drug candidates using HGS' proprietary novel targets. HGS has identified and characterized thousands of fully-cloned expressed secretory proteins that provide a source of novel antigens. HGS will develop and commercialize independently antibody-based drugs arising from this collaboration. Abgenix also has an option in the future to develop and commercialize independently products derived from HGS antigens.
HGS and Abgenix will pay reciprocal milestones and royalties for products developed and commercialized.
In addition, the two companies will work together on certain antigens applying their complementary expertise to jointly develop additional antibody drugs. Abgenix and HGS intend to select up to two targets of interest each year for shared development and commercialization.
Both Abgenix and HGS have built a product development capability in recent years. Abgenix has multiple proprietary antibody product candidates under development internally and is conducting three clinical trial programs for graft-versus-host disease,
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Contact: Kurt Leutzinger, Abgenix, Inc.
510-608-6575
Porter Novelli
30-Nov-1999