Abgenix Expands Research License and Option Agreement with Genentech

Strategic Insights -

Abgenix, a biopharmaceutical company, has announced the expansion of its research license and option agreement with Genentech, Inc. The new agreement allows Genentech to use Abgenix's proprietary XenoMouse technology to generate fully human antibodies to a second antigen target in the area of cardiovascular research. In return, Abgenix will receive research payments, and, if Genentech exercises its option, Abgenix could receive license fee and milestone payments plus royalty payments on future product sales by Genentech.

Key Takeaways:

  • Abgenix has expanded its research license and option agreement with Genentech, Inc. to use its XenoMouse technology for a second antigen target.
  • The new target is in the area of cardiovascular research.
  • Abgenix will receive research payments and could receive license fee and milestone payments, plus royalty payments on future product sales by Genentech.
  • Genentech will be responsible for manufacturing, product development, and marketing of any products developed through the collaboration.
  • Abgenix has collaborative arrangements with Pfizer, Inc. and Schering-Plough Research Institute.
  • Abgenix has four proprietary antibody product candidates under development, two of which are in human clinical trials.

Statistics:

  • 2 proprietary antibody product candidates are in human clinical trials.
  • Abgenix has a collaborative arrangement with Pfizer, Inc.
  • Abgenix has a collaborative arrangement with Schering-Plough Research Institute.
  • Abgenix's XenoMouse technology enables the generation of high affinity, fully human antibody product candidates.
  • The new agreement expands upon the existing research license and option agreement between Abgenix and Genentech.

Sources:

  • Abgenix, Inc. press release (June 23, 1998)
  • Cell Genesys' Form 10-K dated March 31, 1998
  • Abgenix's Form S-1 dated April 3, 1998 and amendments thereto