Abgenix Expands Antibody Agreements With Chiron,
Abgenix, Inc. (Nasdaq: ABGX) announced today that it has expanded its relationship with Chiron Corporation ("Chiron") (Nasdaq: CHIR). Under the new agreement, Chiron will use Abgenix’s XenoMouse ™ technology to generate fully human monoclonal antibody therapies against multiple cancer-specific antigen targets supplied by Chiron over a multi-year term. The first agreement between the parties included one antigen in the field of autoimmune disease, and four cancer antigens.
As in the terms of the December 1999 agreement, Abgenix will receive technology access fees, and could receive milestone and license payments, plus royalties on any future product sales by Chiron. Chiron will be responsible for product development, manufacturing, and commercialization of any products developed through the program.
"We are pleased with Chiron’s interest in adding new targets for antibody-based therapies," stated R. Scott Greer, chairman and chief executive officer of Abgenix. "We are delighted to provide extended access to XenoMouse™ technology to our existing customers."
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