Abgenix Enters Xenomouse™ Technology Collaboration With Biogen To Generate Fully Human Antibodies

Abgenix, Inc. (Nasdaq: ABGX) today announced that it has signed a research collaboration, option and license agreement with Biogen, Inc. under which the parties will use Abgenix’s XenoMouse ™ technology to generate fully human monoclonal antibodies to up to fifteen antigen targets supplied by Biogen during the collaboration’s multi-year term. Under the terms of the agreement, Abgenix will receive upfront research payments, and could receive license and milestone payments, and royalties on any future product sales by Biogen. Biogen will be responsible for product development, manufacturing, and commercialization of any products developed through the collaboration. "We are delighted to enter a XenoMouse collaboration with Biogen, a premier biotechnology company with industry-leading capabilities in discovering, developing and marketing novel therapies including therapeutic antibodies," stated R. Scott Greer, chairman and chief executive officer of Abgenix. "We are pleased to be working with Abgenix, a company well known for its technology leadership in the area of fully human antibodies. This agreement augments our strong antibody-generating capabilities and has the potential to contribute to the development of therapeutics in all four of our focus areas – inflammation, neoplasia, fibrosis and neurodegeneration," said Michael Gilman, Ph.D., vice president of Research at Biogen.