upfront payment

Symphogen inks $330M collaboration pact with Genentech

John Carroll — Wed, 11 Jun 2008 11:15:13 -0400

Denmark's Symphogen has inked a $330 million collaboration deal with Genentech to discover new antibodies for three infectious disease targets. Symphogen gets an undisclosed equity investment as well as an undisclosed upfront payment, which will be used to fund a lead program in a mid-stage trial. Genentech gets a worldwide license on the developed candidates and will fund related R&D costs. The pact is a coup for Symphogen, which has smaller deals in place with Sweden's Biovitrum AB and Japan's Meiji Seika Kaisha.

According to a report in BioWorld, Symphogen has developed a rapid process for cloning antibodies as well as a more efficient manufacturing process.

"This deal underscores our belief that Symphogen's technologies offer a valuable approach to create next-generation therapeutics that address critical unmet medical needs in the treatment of serious infections," said Kirsten Drejer, Ph.D., CEO of Symphogen.

- check out the press release
- read the story from BioWorld

BMS inks $227M collaboration deal with KAI

Tue, 13 May 2008 06:59:55 -0400

South San Francisco-based KAI Pharmaceuticals is getting a $25 million boost from Bristol-Myers Squibb---its upfront payment for a collaboration on KAI-9803, an experimental therapy to reduce the severity of a heart attack and improve clinical outcomes. BMS will also buy $10 million in KAI equity and up to $192 million in milestone payments and will pay for all future development efforts, including an upcoming Phase IIb. KAI also retains co-promotion rights in the U.S.

"This is a major milestone for KAI-9803, our most advanced of three clinical programs, and a strategically important collaboration for KAI," says CEO Steven James. "Bristol-Myers Squibb is a great partner for us with its impressive history of developing and commercializing breakthrough medicines in cardiovascular disease. We believe this deal is testimony to the value and potential of KAI-9803 and our broad proprietary technology around protein kinase C modulation." KAI was a 2006 Fierce 15 company.

- check out the press release
- read the Dow Jones report

Merck turns to Ranbaxy for $100M R&D effort

Mon, 12 May 2008 06:59:58 -0400

India's Ranbaxy has flexed its research muscles once again, this time signing a five-year pact with Merck to develop new anti-infectives. Ranbaxy, which received an undisclosed upfront payment, says it stands to earn more than $100 million from each new therapy developed in the five-year collaboration, which follows a similar deal it signed with GlaxoSmithKline. Ranbaxy researchers will advance therapies into Phase II, at which point Merck will take over the development program. Ranbaxy shares jumped more than five percent on the news.

This new deal signals an ongoing effort by big pharma companies to reduce their expenses by shifting development programs into China and India. Eli Lilly has also aggressively pursued an Asian strategy for its R&D work as well.

"We are going to start work on a minimum of two (drug candidates), and we can then add to it later," Ranbaxy CEO Malvinder Mohan Singh told Dow Jones.

- see this release on the deal
- read the report from Dow Jones

Italy's Newron buys U.K.-based developer

Mon, 11 Feb 2008 06:59:57 -0500

Italy's Newron Pharmaceuticals has U.K.-based Hunter-Fleming, a company that's developing therapies for neurodegenerative and inflammatory disorders. Newron gains several clinical-stage compounds, including:

HF0220, a Phase II drug for Alzheimer's disease and rheumatoid arthritis;
HF0420, a Phase I therapy for prevention of anti-cancer therapy induced neuropathy;
and HF0299, a potential neuropathic pain treatment in Phase I

Hunter-Fleming also has a neuroprotective compound series in the discovery phase. Newron will make an upfront payment of €8 million, minus net debt, for the fully diluted share capital of Hunter-Fleming, in newly issued Newron shares. In addition, Hunter-Fleming programs could earn up to €17 million in success-based milestones.

"Hunter-Fleming represents an excellent opportunity for Newron to expand its late-stage development pipeline, a key element of our strategy for growth. It also enables us to expand our CNS expertise into the area of neuro-inflammation thus broadening our overall CNS knowledge," said Dr. Luca Benatti, Newron's CEO.

- here's the release

Related Articles:
Newron reports positive mid-stage pain data. Report
FDA OKs Newron trials. Report
Italy's Newron gains $99 million in IPO. Report
Newron launches a Phase III trial on eve of IPO. Report

HGS, Xencor team up on antibody tech

Fri, 08 Feb 2008 06:59:58 -0500

In another display of monoclonal antibodies' appeal to drug developers, Maryland-based Humab Genome Sciences announced that it will team up with Xencor on drug development. Xencor uses its XmAb technologies--which humanizes antibodies--to enhance the pharmacologic properties of monoclonal antibodies developed by HGS that specifically target antigens discovered by HGS. Xencor gains an upfront payment and could earn additional payments including development and commercial milestones, and royalties. Further financial details were not disclosed. Xencor was a 2005 Fierce 15 company.

- see this release for more

Related Articles:
HGS stock dives on drug safety concerns. Report
Xencor adds $15M to fifth VC round. Report

Pfizer, Adolor ink pain drug deal

Wed, 05 Dec 2007 06:59:58 -0500

Continuing on its deal-making quest, Pfizer has signed an agreement with Exton, PA-based Adolor for ADL5859 and ADL5747. The two pain drugs treat a range of conditions, including inflammatory pain and neuropathic pain. ADL5859 is currently in Phase II trials and ADL5747 is set to begin Phase I trials in the first quarter of 2008. Adolor gains an upfront payment of $30 million along with $1.9 million reimbursement for previous development costs. The company could earn up to $232.5 million in milestone payments.

"This collaboration demonstrates our commitment to executing against the R&D plan we outlined, including expanding our Phase 2 portfolio with a strong focus in our key therapeutic areas," said Dr. Martin Mackay, president of Pfizer Global Research and Development. "Pfizer has a strong history in bringing to market novel pain solutions including Lyrica, Neurontin and Celebrex. However, there still remains a significant unmet medical need for patients suffering from a variety of debilitating pain conditions."

- see this release for more

ALSO: Take a look at Pfizer's pipeline. Report

Related Articles:
Speculation soars over Pfizer's interest in biotech. Report
Pfizer tops the charts in global R&D spending. Report
Pfizer hires new R&D chief, launches biotech center. Report
Investors cheer FDA's acceptance of Adolor's Entereg response. Report

Excaliard raises $15.5M, inks Isis pact

Tue, 27 Nov 2007 06:59:56 -0500

Excaliard Pharmaceuticals has garnered $15.5 million in a new venture round and spent $1 million to sign Isis onto a development deal. The two biotech companies will focus on new antisense therapies for fibrotic diseases and scarring. On the financing side, Alta Partners, ProQuest Investments, and RiverVest Venture Partners put up the first round. Excaliard made an upfront payment to Isis in the form of equity and paid Isis $1 million cash for the licensing of a particular gene target. In addition, Isis is eligible to receive development milestones and royalties on antisense drugs developed by Excaliard.

"Isis has made superb progress in the development of second-generation antisense drugs over the last few years, as evidenced by its clinical pipeline and current collaborations with companies such as Bristol-Myers Squibb, Eli Lilly and Ortho-McNeil among others. Having access to Isis' antisense technology and expertise provides a great opportunity for Excaliard," said J. Gordon Foulkes, Ph.D., acting CEO for Excaliard and Managing Director of RiverVest Venture Partners.

- here's the release for more info
- read this AP report

ALSO: Bind Biosciences raised $16 million in its second round, which goes to advancing nanoparticles for use in drug delivery. Release

Related Articles:
More good news from RNAi company Isis. Report
Isis touts positive cholesterol data in LDL study. Report
RNAi leaders Isis, Alnylam form new company. Report
Isis acquires Symphony GenIsis. Report
Isis gains from big RNAi deal. Report

Shire, Amicus forge $440M pact

Thu, 08 Nov 2007 06:59:55 -0500

Amicus Therapeutics has scored a $50 million upfront payment from Shire's human genetics sub for rights outside the U.S. to three experimental therapies for genetic disorders: Amigal (migalastat hydrochloride) for Fabry disease (Phase II), Plicera (isofagomine tartrate) for Gaucher disease (Phase II) and AT2220 (deoxynojirimycin) for Pompe disease (Phase I). Amicus stands to gain $150 million for development milestones and $240 million in sales milestones plus royalties. Both companies will share expenses in the development pact. For Shire, the deal marks another expansion of its pipeline of new therapies for genetic disorders. Two years ago it paid $1.6 billion for Transkaryotic Therapies. One of the leaders in the field of new treatments for genetics disorders is Genzyme, which has been aggressively beefing up its own pipeline.

- check out the release for more info

Related Articles:
Shire on lookout for acquisitions. Report
Shire to Massachusetts: Pass incentive bill now. Report

Isis pockets $45M in pact with J&J subsidiary

Thu, 13 Sep 2007 06:59:58 -0400

Isis Pharmaceuticals is pocketing an upfront payment of $45 million after forging a licensing and commercialization deal with Ortho-McNeil, a J&J company. The pact includes a potential payout of $230 million for the successful development of new diabetes drugs. Ortho-McNeil gets the worldwide rights to ISIS 325568 and ISIS 377131 while Isis gets a deep-pocket partner to fund additional research into therapies for metabolic disorders like diabetes and obesity. This is the kind of big payout that thrills biotech investors. Isis shares surged 11 percent in pre-market trading. Prior to closing the transaction, Isis said it plans to purchase the equity in Symphony GenIsis and reacquire the intellectual property related to the GCGR and GCCR programs as well as regain full ownership of ISIS 301012, the company's lipid-lowering drug targeting Apolipoprotein B-100.

"We look forward to working with Ortho-McNeil and J&JPRD to advance our glucagon receptor and glucocorticoid receptor drugs through the clinic and to develop additional drugs against other promising targets," said Lynne Parshall, J.D., Isis' CFO.

- see the release from Isis for more

Related Articles:
RNAi leaders Isis, Alnylam form new company. Report
Isis gains from big RNAi deal. Report
Isis sees positive data in Phase II diabetes trial. Report
Isis touts positive cholesterol data in LDL study. Report

ALSO NOTED: Flamel inks licensing deal;Alfacell trial hits a milestone; and much more...

Wed, 12 Sep 2007 06:59:50 -0400

> France's Flamel Technologies gets an undisclosed upfront payment and a schedule of potential milestone payments after signing a licensing and development deal with Wyeth for using its technology to deliver a marketed protein. Release

> Alfacell Corporation has confirmed that 290 evaluable events--patient deaths--have occurred in the Phase IIIb clinical trial of its lead compound, ONCONASE, for unresectable malignant mesothelioma. Release

> Prana Biotechnology has raised $7 million in a private placement. Release

> What's a generic drug company to do? A federal judge refused Wyeth's request for an injunction against the launch generic Protonix, and Teva could start selling. But if Wyeth wins the patent case, then Teva would have to fork over three times its sales. Report

> An outbreak of foot-and-mouth disease in the UK has been contained after a government report pinned the blame for the outbreak on leaky pipes at the Institute for Animal Health's Pirbright site. Report

> The NIH has doled out $438 million for daring research projects. Report

> And Finally... Venture capitalists bet big on nanotechnology. Report

Pharming steps up marketing plans on Phase III data

Thu, 30 Aug 2007 06:59:58 -0400

Pharming says that its Phase III trial for Rhucin--a human protein developed to treat acute attacks of hereditary angieoedema--has hit its targets, opening the way to European and U.S. markets as the company pursues regulatory approvals on both sides of the Atlantic. With experts at the EMEA expected to give a thumb's up to Rhucin late this year, company officials reportedly believe that they are hot on the trial of a U.S. partnership deal that should include a substantial upfront payment. If all goes according to plan, Pharming tells the wire services, it will launch its therapy--derived from rabbit's milk--in Europe in the first half of '08. And FDA marketing application is expected later this year with an approval coming soon enough to launch in the U.S. soon after the therapy is introduced in Europe. Rhucin would be the second transgenic therapy to hit the market, and Pharming believes it has the potential to earn up to $820 million a year.

- check out the release on Pharming's Phase III

Related Articles:
Regulators focusing on transgenic animals. Report
Pharming says it's closing in on Rhucin approval. Report
Pharming inks creative drug partnering pact. Report
Pharming wins fast track review, shares jump. Report
Pharming gets orphan status for transgenic therapy. Report

Press Release: Novavax Licenses Wyeth's Virus-Like Particle Technology

Maureen Martino — Mon, 09 Jul 2007 11:01:51 -0400

Novavax Licenses Wyeth's Virus-Like Particle Technology

ROCKVILLE, Md., July 9 -- Novavax announced today that is has signed a non-exclusive, worldwide license agreement with Wyeth, to obtain rights to a patent application covering virus-like particle (VLP) technology for use in human vaccines in certain fields of use. The agreement provides for an upfront payment, annual license fees, milestone payments and royalties on any product sales. Payments under the agreement to Wyeth could aggregate $5 million through the end of 2008.

Novavax is developing pandemic and seasonal influenza vaccines based upon the VLP technology. VLPs mimic the three-dimensional structure of a virus but do not contain genetic material. Therefore, they cannot replicate and are believed to be incapable of causing infection or disease. Because VLPs maintain functional properties of two influenza surface proteins, hemagglutinin and neuraminidase, they have been shown to activate multiple responses in the immune system. The licensed patent application supplements Novavax's extensive patent portfolio in the VLP field.

"We are delighted to have completed this license agreement with Wyeth and see this license as another important step in building a strong intellectual property position for our influenza vaccine programs," stated Rahul Singhvi, President and Chief Executive Officer of Novavax, Inc.

About Novavax

Novavax Inc. is committed to leading the global fight against infectious disease by creating novel, highly potent vaccines that are safer and more effective than current preventive options. Using the company's proprietary virus-like particle (VLP) and Novasome® adjuvant technologies, Novavax is developing vaccines to protect against H5N1 pandemic influenza, seasonal flu and other viral diseases. Novavax's particulate vaccines closely match disease-causing viruses while lacking the genetic material to cause disease, which provides potential for greater immune protection at lower doses than current vaccines. With an exclusive portable manufacturing system that allows for rapid mass-production of vaccines, Novavax is uniquely positioned to meet global public health needs.

Forward-Looking Statements

Statements herein relating to future financial or business performance, conditions or strategies and other financial and business matters, including expectations regarding product sales, operating expenses, and clinical developments are forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Novavax cautions that these forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Factors that may cause actual results to differ materially from the results discussed in the forward-looking statements or historical experience include risks and uncertainties, including the failure by Novavax to secure and maintain relationships with collaborators; risks relating to the early stage of Novavax's product candidates under development; uncertainties relating to clinical trials; risks relating to the commercialization, if any, of Novavax's proposed product candidates; dependence on the efforts of third parties; dependence on intellectual property; competition for clinical resources and patient enrollment from drug candidates in development by other companies with greater resources and visibility, and risks that we may lack the financial resources and access to capital to fund our operations. Further information on the factors and risks that could affect Novavax's business, financial conditions and results of operations, is contained in Novavax's filings with the U.S. Securities and Exchange Commission, which are available at http://www.sec.gov. These forward-looking statements speak only as of the date of this press release, and Novavax assumes no duty to update forward- looking statements.

Press Release: Novartis Gains Access to Intercell's Key Technologies and Vaccines Programs

Maureen Martino — Mon, 02 Jul 2007 12:30:08 -0400

Novartis Enhances Its Vaccine Pipeline by Gaining Access to Intercell's Key Technologies and Vaccines Programs

> Comprehensive alliance broadens Novartis Vaccines portfolio by providing continuous access to more than 10 Intercell projects in preclinical and early-stage development for upfront payment of EUR 270 million, including equity investment
> Eligible candidates include IC43 for prevention of hospital-acquired pseudomonas infections and IC47 for prevention of pneumonia infections
> Alliance expands Novartis leadership in adjuvanted vaccines through exclusive rights to further develop IC31 adjuvant in influenza - designed to enhance effectiveness
> Novartis to assume responsibility for Phase III development, manufacturing and commercialization for any projects chosen after Phase II trials

BASEL, Switzerland, July 2, 2007 - Novartis and Intercell AG have formed one of the vaccines industry's most comprehensive and innovative strategic alliances, combining the research, development, manufacturing and commercialization capabilities of Novartis with Intercell's unique research skills and highly-respected pipeline.

Several unpartnered projects in the existing Intercell R&D portfolio, which currently includes more than 10 potential projects for which Novartis may choose for further development, will further strengthen the efforts of Novartis to building a broad range of vaccines to prevent life-threatening viral and bacterial diseases as well as strengthen its range of influenza vaccines.

Novartis has also secured opt-in rights to all future vaccine candidates discovered by Intercell during the long-term collaboration. The Austrian biotechnology company is focused on novel vaccines for prevention and treatment of infectious diseases with substantial unmet medical need.

"This novel alliance will further leverage the potential of various Intercell vaccine candidates with the research, development, manufacturing and commercialization expertise of Novartis," said Jörg Reinhardt, CEO of Novartis Vaccines and Diagnostics. "We are pleased to have reached this alliance with Intercell, which shares our vision of science in vaccines and is widely regarded as having one of the most innovative pipelines."

Among the various Intercell projects eligible to Novartis are the IC43 vaccine candidate for use in patients with hospital-acquired pseudomonas infections, which is now in Phase II trials and will expand the range of nosocomial vaccines in the Novartis pipeline, and the pre-clinical vaccine IC47 against pneumonia infections in the elderly and infants.
Pseudomonas is a life-threatening infection considered the fourth most common nosocomial pathogen and accounts for at least 10% percent of all hospital-acquired infections - particularly in burn victims, according to the US Centers for Disease Control and Prevention (CDC). IC47 is a next-generation vaccine in development for the prevention of diseases related to streptococcus pneumoniae, such as pneumonia or otitis media (ear infection).

This new collaboration with Intercell comes after Novartis signed in 2006 a marketing and distribution agreement with Intercell for IC51, a new vaccine currently in Phase III trials for use in preventing infections from the Japanese Encephalitis virus.

The alliance will specifically focus on the development of vaccines derived from Intercell's Antigen Identification Program (AIP), including IC31 adjuvant technology in selected areas. Intercell's AIP approach is complementary to the Reverse Vaccinology system used by Novartis, which selects vaccine candidates based on highly conserved antigen sequences.

Intercell has responsibility for all costs through the end of Phase II clinical trials, while Novartis will assume responsibilities for Phase III development, manufacturing and commercialization for any projects chosen during the collaboration.

Novartis has also gained exclusive rights to further develop the next-generation IC31 adjuvant for use in enhancing the effectiveness of influenza vaccines. An influenza vaccine formulated with this adjuvant began Phase I trials in June 2007. Rights have also been gained to develop IC31 in other disease areas.

The development of IC31 in influenza vaccines will further strengthen the leadership of Novartis in adjuvant technology. Novartis has the proprietary adjuvant MF59, which has been shown in influenza vaccines to boost the body's immune system and enhance protection with a lower dose of a viral antigen than other vaccines.

The complementary research approaches of both companies will also allow for the combination of various research efforts to leverage existing assets in key areas, including efforts to develop therapeutic vaccines for patients infected with the Hepatitis C virus.

Financial terms of the agreement
Novartis will make an upfront payment of EUR 270 million to Intercell for exclusive opt-in rights for any existing unpartnered vaccine project or any future projects following the completion of Phase II clinical trials. This upfront payment includes the purchase of 4.8 million new Intercell shares at a premium to the market price, which will increase the equity stake in Intercell to 16.1% from the current 6.1% acquired at the time of the IC51 vaccine agreement in 2006. The agreement is subject to customary regulatory approvals, including in the United States.

About Novartis
Novartis Vaccines and Diagnostics is a division of Novartis focused on the development of preventive treatments and tools. The division has two activities: Novartis Vaccines and Chiron. Novartis Vaccines is the world's fifth-largest manufacturer and second-largest supplier of influenza vaccines in the US. The division's products include influenza, meningococcal, pediatric and travel vaccines. Chiron, the blood testing and molecular diagnostics business, is dedicated to preventing the spread of infectious diseases through the development of novel blood-screening tools. For more information, please visit http://www.novartisvaccines.com

Novartis AG (NYSE: NVS) is a world leader in offering medicines to protect health, cure disease and improve well-being. Our goal is to discover, develop and successfully market innovative-products to treat patients, ease suffering and enhance the quality of life. We are strengthening our medicine-based portfolio, which is focused on strategic growth platforms in innovation driven pharmaceuticals, high-quality and low-cost generics, human vaccines and leading self-medication OTC brands. Novartis is the only company with leadership positions in these areas. In 2006, the Group's businesses achieved net sales of USD 37.0 billion and net income of USD 7.2 billion. Approximately USD 5.4 billion was invested in R&D. Headquartered in Basel, Switzerland, Novartis Group companies employ approximately 100,000 associates and operate in over 140 countries around the world.

For more information, please visit http://www.novartis.com

Disclaimer
This release contains certain forward-looking statements, relating to the Novartis Group's business, which can be identified by the use of forward-looking terminology such as "will pay," "will increase," "will allow," "prevent," "leverage," or similar expressions, or by express or implied discussions regarding potential development, marketing approvals, commercialization or indications or future sales of IC31, IC43 and IC47. Such forward-looking statements reflect the current views of Novartis regarding future events, and involve known and unknown risks, uncertainties and other factors that may cause actual results with IC31, IC43, IC47 and other potential vaccine development candidates from Intercell to be materially different from any future results, performance or achievements expressed or implied by such statements. There can be no guarantee that IC31, IC43, IC47 or any other potential vaccine candidates will be approved for any indications in any market or that these vaccines will reach any particular sales levels. In particular, management's expectations regarding these vaccines and/or the proprietary cell culture technology of Novartiscould be affected by, among other things, unexpected regulatory actions or delays or government regulation generally; unexpected clinical trial results, including additional analysis of existing clinical data and new clinical data; competition in general; the ability of Novartis to obtain or maintain patent or other proprietary intellectual property protection; increased government, industry, and general public pricing pressures; and other risks and factors referred to in the Novartis AG's current Form 20-F on file with the US Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, believed, estimated or expected. Novartis is providing the information in this press release as of this date and does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise.

Press Release: GPC Biotech Announces Partnering Agreement for Satraplatin for Japan with Yakult

Maureen Martino — Mon, 25 Jun 2007 08:30:55 -0400

GPC Biotech Announces Partnering Agreement for Satraplatin for Japan with Yakult

Martinsried/Munich (Germany) and Princeton, N.J., June 25, 2007 – GPC Biotech AG today announced that the Company has entered into a license agreement with Yakult Honsha Co. Ltd. for satraplatin in Japan.

Under the terms of the agreement, Yakult gains exclusive commercialization rights to satraplatin for Japan and will take the lead in developing the drug in Japan. Yakult is to provide an upfront payment of ¥1.2 billion (~$10 million) to GPC Biotech as reimbursement for past satraplatin clinical development expenses. Yakult will also make GPC Biotech additional payments based on the achievement of certain regulatory filing and approval milestones. GPC Biotech will also receive a minimum of 21% royalties on sales of satraplatin in Japan.

Bernd R. Seizinger, M.D., Ph.D., Chief Executive Officer of GPC Biotech, said: “We are delighted to have Yakult as our partner for Japan. Yakult’s pharmaceutical business specializes in cancer and cancer-related ailments and has expanded its operations in this area. They are the inventor of irinotecan, which is a global standard drug for colorectal cancer, and have a solid track record of successfully commercializing another platinum-based drug, oxaliplatin, in Japan. They also share the development philosophy of GPC Biotech and plan to develop satraplatin for additional cancer indications for Japan. We look forward to a productive working relationship with Yakult.”

Teruo Yokokura, Ph.D., Head of Pharmaceutical Division of Yakult Honsha Co., Ltd., said: “We are excited to have the opportunity to develop and commercialize satraplatin for the Japanese market. We look forward to building on the solid foundation of the Phase 3 data from the satraplatin SPARC trial conducted by GPC Biotech in second-line hormone-refractory prostate cancer to bring this product through development, the regulatory process and onto the market in Japan. We believe that, if shown to be effective and well-tolerated, satraplatin, which is given as capsules that patients can take at home, could be an important option for cancer patients in Japan.”

About Satraplatin
Satraplatin, an investigational drug, is a member of the platinum family of compounds. Platinum-based drugs are a critical part of modern chemotherapy treatments and are used to treat a wide variety of cancers. All platinum drugs currently on the market require intravenous administration. Satraplatin is an oral compound that clinical trial patients are able to take at home. Satraplatin is not currently approved by the FDA in the United States, by the EMEA in the European Union or any other regulatory authority and no conclusions can or should be drawn regarding its safety and efficacy.

A Phase 3 registrational trial, called SPARC, is evaluating satraplatin plus prednisone versus placebo plus prednisone in 950 patients with hormone-refractory prostate cancer whose prior chemotherapy has failed. Data from the trial showing a statistically significant improvement in progression-free survival and data on prostate specific antigen (PSA) have been presented at recent medical conferences. The satraplatin NDA, filed on February 15 2007, is currently under review by the U.S. FDA for hormone-refractory prostate cancer patients whose prior chemotherapy has failed and will be reviewed by the Oncologic Drugs Advisory Committee (ODAC) on July 24, 2007. The FDA has accepted for filing the Company’s NDA and granted the NDA priority review status. An action from the FDA on the application is expected in August of this year.

GPC Biotech has a co-development and license agreement with Pharmion GmbH, a wholly owned subsidiary of Pharmion Corporation, under which Pharmion has been granted exclusive commercialization rights to satraplatin for Europe and certain other territories. Pharmion has indicated it expects to complete the Marketing Authorization Application (MAA) for satraplatin for Europe in the second quarter of 2007. GPC Biotech in-licensed satraplatin from Spectrum Pharmaceuticals, Inc. in 2002.
Satraplatin has been studied in clinical trials involving a range of tumors. Trials evaluating the effects of satraplatin in combination with radiation therapy, in combination with other cancer therapies and in a number of cancer types are underway or planned.

About GPC Biotech
GPC Biotech AG is a publicly traded biopharmaceutical company focused on discovering, developing and commercializing new anticancer drugs. GPC Biotech's lead product candidate satraplatin is currently under review by the U.S. FDA for hormone-refractory prostate cancer patients whose prior chemotherapy has failed. GPC Biotech is also developing a monoclonal antibody with a novel mechanism-of-action against a variety of lymphoid tumors, currently in Phase 1 clinical development, and has ongoing drug development and discovery programs that leverage its expertise in kinase inhibitors. GPC Biotech AG is headquartered in Martinsried/Munich (Germany), and has a wholly owned U.S. subsidiary headquartered in Princeton, New Jersey. For additional information, please visit GPC Biotech's Web site at www.gpc-biotech.com.

This press release contains forward-looking statements, which express the current beliefs and expectations of the management of GPC Biotech AG, including statements relating to results of the SPARC trial and statements relating to the potential efficacy and safety profile of satraplatin. Such statements are based on current expectations and are subject to risks and uncertainties, many of which are beyond our control, that could cause future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Actual results could differ materially depending on a number of factors, and we caution investors not to place undue reliance on the forward-looking statements contained in this press release. In particular, there can be no guarantee that additional information relating to the safety, efficacy or tolerability of satraplatin may be discovered upon further analysis of data from the SPARC trial or analysis of additional data from other ongoing clinical trials for satraplatin. Furthermore, we cannot guarantee that satraplatin will be approved for marketing in a timely manner, if at all, by regulatory authorities nor that, if marketed, satraplatin will be a successful commercial product. We direct you to GPC Biotech’s Annual Report on Form 20-F for the fiscal year ended December 31, 2006 and other reports filed with the U.S. Securities and Exchange Commission for additional details on the important factors that may affect the future results, performance and achievements of GPC Biotech. Forward-looking statements speak only as of the date on which they are made and GPC Biotech undertakes no obligation to update these forward-looking statements, even if new information becomes available in the future.

Press Release: Anacor Pharmaceuticals Says Schering-Plough Corporation To Develop Its Anti-Fungal Drug

Maureen Martino — Fri, 02 Feb 2007 11:01:18 -0500

Anacor Pharmaceuticals Says Schering-Plough Corporation To Develop Its Anti-Fungal Drug; Anacor To Get $40 Million Upfront

PALO ALTO, Calif., Feb. 2 -- Anacor Pharmaceuticals, a privately held pharmaceutical company, announced today that it has entered into an exclusive, worldwide agreement with Schering-Plough Corporation for the development and commercialization of AN2690. The drug is a topical anti-fungal therapy currently in Phase 2 clinical trials for onychomycosis, a fungal infection of the nail and nail bed that affects 7 to 10 percent of the U.S. population.

Under the terms of the agreement, Anacor will receive a $40 million upfront payment and a $10 million financing commitment from Schering-Plough. The company is eligible to receive payments potentially exceeding $575 million for development, regulatory and commercial milestones. In addition, Anacor will receive double-digit royalty payments on future sales. Schering-Plough will assume all costs for the drug's development for onychomycosis and other indications, and Anacor retains an option to co-promote the drug in the United States to dermatologists. The transaction is expected to close in the first quarter subject to expiration or early termination of the waiting period under the Hart, Scott, Rodino Antitrust Improvements Act (HSR).

"The deal enables the development and commercialization of AN2690 to its fullest potential and provides the resources necessary to advance other promising, proprietary drug candidates in our pipeline. In addition, the co-promote option gives Anacor the opportunity to build a fully-integrated pharmaceutical company in the future," said David Perry, Chief Executive Officer of Anacor. "Schering-Plough's worldwide reach, ability to effectively market to general practitioners, and experience with topical and dermatologic treatments makes them an ideal partner for Anacor and AN2690."

AN2690 is a topical anti-fungal that works by inhibiting a validated drug target in a novel and unprecedented manner. It was identified utilizing Anacor's proprietary boron chemistry platform. Preclinical studies demonstrated that AN2690 disseminates rapidly throughout the nail and kills the fungus at the site of infection. AN2690 is currently being evaluated in three fully-enrolled Phase 2 studies. Results to date have shown that the drug is well tolerated and highly potent, with patients who received the treatment demonstrating significant clear nail growth.

Onychomycosis affects 20 to 30 million people in the United States alone, including nearly half of those over age 70. Untreated, the disease causes nails to thicken, resulting in localized pressure-related pain. Topical treatments succeed in fewer than 12 percent of patients, and systemic treatments, which are effective in approximately half of all cases, have known toxicity. Yet sales of treatments for onychomycosis top $1.5 billion annually worldwide.

Anacor will present data on three of its clinical-stage drug candidates at the 65th Annual Meeting of the American Academy of Dermatology in Washington this weekend. The nine poster presentations will include data from the Phase 2 programs for both AN2690 and AN0128. In addition, the first-ever data presentations on AN2728, a potential topical treatment for psoriasis, will show results from preclinical testing that demonstrate the compound's anti-inflammatory properties.

Goldman Sachs, Heller Ehrman LLP and Cooley Godward Kronish LLP served as advisors to Anacor.

About Anacor Pharmaceuticals

Anacor is a privately held, clinical-stage pharmaceutical company developing novel product candidates for inflammatory and infectious diseases based on its proprietary, small-molecule, boron-based chemistry. Initially, Anacor is focusing development efforts on dermatological disorders with AN2690 in Phase 2 trials for onychomycosis, a fungal infection of nails and nail beds. Another mid-stage product candidate, AN0128, is in Phase 2b clinical trials for atopic dermatitis, a disorder that affects approximately 15 million in the United States. The principal investors in Anacor are Rho Ventures, Venrock Associates, Care Capital and Aberdare Ventures.

Press Release: Archemix Corporation And Merck KGaA To Collaborate On Aptamer-Based Cancer Therapeutics

Maureen Martino — Thu, 18 Jan 2007 09:10:01 -0500

Archemix Corporation And Merck KGaA To Collaborate On Aptamer-Based Cancer Therapeutics; Archemix Will Receive As Much As $10 Million

CAMBRIDGE, Mass., Jan. 17 -- Archemix announced today that it has signed a multi-year, multi-target agreement with Merck KGaA of Darmstadt, Germany, that focuses on the discovery, development, and commercialization of first-in-class aptamer-based therapeutics to treat cancer.

Under terms of the agreement, Archemix will receive an upfront payment and committed research funding of as much as $10 million. Archemix also could receive milestones and royalty payments for products successfully commercialized under the collaboration. In addition, Archemix may participate in the co-promotion of products that result from the collaboration. Other financial terms were not disclosed.

Dr. Errol De Souza, President and Chief Executive Officer of Archemix, commented: "Merck is a recognized global leader in oncology drug development and marketing, and we are excited to be working with them to apply our scientific expertise in developing novel aptamer therapeutics for cancer. This alliance is the fourth major partnership we have formed over the past six months and is consistent with our strategy to enable partners to leverage aptamers as drugs on a target-by-target basis."

"Archemix is the leader in the field of aptamers, a new class of drugs that has tremendous potential in the battle against cancer," said Dr. Bernhard Kirschbaum, Executive Senior Vice President and Director of Research for Merck Serono. "We hope this collaboration will further our efforts to provide physicians and oncology patients with innovative, targeted cancer treatments."

About Aptamers

Aptamers are single-stranded nucleic acids that form well-defined three dimensional shapes, allowing them to bind target molecules in a manner that is conceptually similar to antibodies. Aptamers combine the optimal characteristics of small molecules and antibodies, including high specificity and affinity, chemical stability, low immunogenicity and the ability to target protein-protein interactions. In contrast to monoclonal antibodies, aptamers are chemically synthesized rather than biologically expressed, offering a significant cost advantage.

About Archemix Corp.

Archemix Corp. is a privately-held biopharmaceutical company based in Cambridge, Massachusetts. The company's mission is to develop aptamers as a class of directed therapeutics for the prevention and treatment of human disease. Because of their unique properties and proven efficacy, aptamers offer an alternative to biologics and small molecules in numerous applications and offer the potential to be a major class of drugs for the treatment of unmet medical needs.

Archemix's aptamer expertise is complemented by a robust patent estate comprised of over 220 issued and 230 pending patents covering the identification, composition, and use of therapeutic aptamers. In addition to the company's core aptamer generation technology, Archemix possesses strong expertise in both pre-clinical and clinical drug development. Further information on Archemix can be found at http://www.archemix.com.

About Merck

Merck is a global pharmaceutical and chemical company with sales of EUR 5.9 billion in 2005, a history that began in 1668, and a future shaped by about 35,000 employees in 56 countries. Its success is characterized by innovations from entrepreneurial employees. Merck's operating activities come under the umbrella of Merck KGaA, in which the Merck family holds a 73% interest and free shareholders own the remaining 27%. In 1917 the U.S. subsidiary Merck & Co. was expropriated and has been an independent company ever since.

For more information about Archemix or aptamers, or to speak with Dr. De Souza, please contact Davia Temin of Temin and Company at 212-588-8788 or news@teminandco.com.

Press Release: BioInvent Enters Collaboration With Genentech

Maureen Martino — Fri, 12 Jan 2007 12:26:19 -0500

BioInvent Enters Collaboration With Genentech to Develop and Commercialize BioInvent’s Proprietary Antibody for the Potential Treatment of Cardiovascular Diseases

Genentech Obtains Rights to Commercialise in North America while BioInvent Retains Rest of World rights

LUND, Sweden-- BioInvent announced today that it has entered into a strategic collaboration with Genentech, Inc. to co-develop and commercialize BioInvent’s proprietary antibody candidate, BI-204, for the potential treatment of multiple cardiovascular conditions. Genentech will make an upfront payment of $15 million to BioInvent and, in addition, BioInvent could receive further milestone payments of up to $175 million as well as royalties on sales in North America.

Under the terms of the agreement, Genentech and BioInvent will be jointly responsible for clinical development. Genentech will be responsible for, and will solely control, any commercialization of the drug in North America, whilst BioInvent will be responsible for, and will solely control, commercialization in the rest of the world. Throughout development Genentech and BioInvent will share the development costs.

“We believe this deal could accelerate BioInvent’s product development and that Genentech’s proven track record in antibody development and commercialization makes it an ideal collaborator”, says BioInvent’s CEO Svein Mathisen in a comment. “Retaining the rights to the product outside of North America gives us an opportunity to increase our participation and involvement in the product’s success.”

BI-204, which is in pre-clinical development, addresses a significant medical need, in particular for the prevention of a cardiovascular event such as a myocardial infarction or stroke in patients at risk. Preclinical studies suggest that this treatment could reduce atherosclerotic plaque burden, and thereby decrease the risk of a secondary cardiovascular event.

BI-204 targets a primary cause of atherosclerosis by blocking a major mediator of vascular inflammation that is believed to lead to the formation of unstable plaque in the vessel wall. Preclinical animal models have demonstrated that this blockade leads to decreased vascular inflammation and a reduction in established atherosclerotic plaque.

Legal disclaimer

This press release contains statements about the future, consisting of subjective assumptions and forecasts for future scenarios. Predictions for the future only apply as of the date they are made and are, by their very nature, in the same way as research and development work in the biotech segment, associated with risk and uncertainty. With this in mind, the actual outcome may deviate significantly from the scenarios described in this press release.

Notes to editors:

BioInvent International AB, listed on The Nordic Exchange (STO:BINV), is a research-based pharma‧ceutical company that focuses on developing antibody drugs. The Company is currently running innovative drug projects within the areas of thrombosis, cancer, atherosclerosis, HIV infection and ophthalmic diseases.

These projects are based on a competitive technology platform that covers the value chain for development of new drugs. The scope and strength of this platform is also utilised by partners, such as ALK-Abelló, Antisoma, ImmunoGen, OrbusNeich, Syngenta, UCB and XOMA.

The Company, which currently has 96 employees, is located at Ideon in Lund.

Press Release: Bristol-Myers Squibb, AstraZeneca Announce Worldwide Collaboration on Diabetes Compounds

Maureen Martino — Thu, 11 Jan 2007 11:55:54 -0500

Bristol-Myers Squibb Company And AstraZeneca Announce Worldwide Collaboration To Develop And Commercialize Diabetes Compounds

PRINCETON, N.J., Jan. 11 -- Bristol-Myers Squibb Company and AstraZeneca today announced a collaboration to develop and commercialize two investigational compounds being studied for the treatment of Type 2 diabetes. Both compounds were discovered by Bristol-Myers Squibb.

Saxagliptin, a dipeptidyl peptidase-4 (DPP-4) inhibitor, is currently in Phase III development. Upon successful completion of the development program, the companies plan to file for U.S. regulatory approval of saxagliptin during the first half of 2008. Dapagliflozin (previously referred to as BMS-512148), a sodium-glucose cotransporter-2 (SGLT2) inhibitor, is currently in Phase IIb development. The collaboration on these compounds is worldwide, except for Japan. Should either party develop additional DPP-4 or SGLT2 compounds, the other company can elect to add those compounds to the collaboration.

Terms of the agreements include an upfront payment of $100 million by AstraZeneca to Bristol-Myers Squibb. The companies have agreed upon initial development plans for the two compounds. From 2007 through 2009, the majority of development costs will be funded by AstraZeneca. Any additional development costs will be shared equally.

Bristol-Myers Squibb may also receive additional payments of up to $650 million based on development and regulatory milestones for the two compounds. In addition, potential sales milestones up to $300 million per product are also possible. The companies will jointly develop the clinical and marketing strategy of the compounds, and post-launch will share commercialization expenses and profits/losses equally on a global basis, excluding Japan. Bristol-Myers Squibb will manufacture both products and book sales.

"This collaboration provides Bristol-Myers Squibb the opportunity to maximize our primary care assets, and it is aligned with our corporate strategy to concentrate R&D efforts on serious diseases such as diabetes while maintaining commercial focus on specialists and high prescribing primary care physicians," said Jim Cornelius, chief executive officer, Bristol-Myers Squibb. "Bristol-Myers Squibb has a strong legacy in treating Type 2 diabetes and cardiovascular disease, and we look forward to leveraging the combined expertise of our company and AstraZeneca to further develop and commercialize these compounds."

David Brennan, chief executive officer of AstraZeneca, said, "Diabetes is a disease reaching almost epidemic proportions in many regions throughout the world and is a particular area of scientific interest for AstraZeneca. This deal represents a significant step in delivering our externalization strategy as it gives us access to two strategically important late-stage compounds in an area of high unmet medical need. We believe that Bristol-Myers Squibb's recognized contributions to diabetes research will complement our existing strengths. Additionally, our combined expertise will develop new areas of opportunity for both companies and the potential to bring real medical benefit to the wider community."

About Diabetes

Diabetes is a disease in which the body does not produce or properly use insulin. Insulin is a hormone needed to carry glucose (sugar) from the blood into cells, where it is converted to energy the cells need to perform properly. When insulin is not present or does not function correctly, the result is high levels of glucose in the blood. Over time, high blood glucose levels can lead to complications in the eyes, kidneys, central nervous system or heart.

Type 2 diabetes is the most common form of diabetes, accounting for approximately 90-95 percent of diabetes cases. Having Type 2 diabetes increases the risk of many serious complications, including heart disease or stroke, high blood pressure, amputation (particularly legs), blindness, nerve damage, and kidney failure. The risk of stroke and the rate of deaths due to heart disease are two to four times higher among people with diabetes, while about 65 percent of deaths among people with diabetes are due to heart disease and stroke.

The American Diabetes Association (ADA) estimates that more than 20 million people in the United States, or 7 percent of the population, have diabetes, and that one in three Americans born in 2000 will develop diabetes sometime during their lifetime. There are currently more than 230 million people living with diabetes worldwide. The objective of treating diabetes is to control blood glucose to as normal a level as possible. This can be accomplished by a combination of diet, exercise and medication.

About Saxagliptin and Dapagliflozin

Saxagliptin is a dipeptidyl peptidase-4 (DPP-4) inhibitor, a new class of diabetes medicines that work by increasing and prolonging the action of natural hormones in the body called incretins. Incretins decrease blood sugar by increasing consumption of sugar by the body, mainly through increasing insulin production in the pancreas, and by reducing production of sugar by the liver. By enhancing the effect of active incretin hormones in the body, DPP-4 inhibitors improve timely insulin release and ultimately decrease high blood sugar levels in patients with Type 2 diabetes.

Dapagliflozin is a sodium glucose cotransporter-2 (SGLT2) inhibitor. The SGLT2 transporter protein is located only in the kidney, where it normally reabsorbs glucose from urine while waste products are filtered out. Patients with Type 2 diabetes continue to reabsorb glucose from the urine, even though this process contributes to high blood glucose levels, or hyperglycemia. Dapagliflozin has a novel mechanism of action that blocks re-absorption of glucose from urine in patients with Type 2 diabetes. Inhibiting SGLT2 activity decreases re-absorption of glucose by the kidney, helping to improve glucose control in patients with Type 2 diabetes.

About Bristol-Myers Squibb

Bristol-Myers Squibb is a global pharmaceutical and related healthcare products company whose mission is to extend and enhance human life.

About AstraZeneca

AstraZeneca is a major international healthcare business engaged in the research, development, manufacture and marketing of prescription pharmaceuticals and the supply of healthcare services. It is one of the world's leading pharmaceutical companies with healthcare sales of $23.95 billion and leading positions in sales of gastrointestinal, cardiovascular, neuroscience, respiratory, oncology and infection products. AstraZeneca is listed in the Dow Jones Sustainability Index (Global) as well as the FTSE4 Good Index. AZ has over 40 years experience in cardiovascular medicine, with a powerful range of products including Atacand, a hypertension medication, Seloken ZOK, a leader in its class of beta blockers and CRESTOR, for the treatment of high cholesterol levels.

Bristol-Myers Squibb Forward-Looking Statement

This press release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995, regarding the development and commercialization of products. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations. No forward-looking statement can be guaranteed. Among other risks, there can be no guarantee that the products described in this release will receive regulatory approval, or that if approved, will be commercially successful. Nor is there any assurance that any or all of the development, regulatory, and sales milestones provided for in the agreement will be achieved. Forward-looking statements in the press release should be evaluated together with the many uncertainties that affect Bristol-Myers Squibb's business, particularly those identified in the cautionary factors discussion in Bristol-Myers Squibb's Annual Report on Form 10-K for the year ended December 31, 2005, its Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. Bristol-Myers Squibb undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.

Archemix and Pfizer forge discovery pact

Mon, 08 Jan 2007 19:01:36 -0500

Archemix has agreed to employ its know-how in discovering aptamer-based drugs for Pfizer in a new drug discovery pact. The details were kept confidential, but Archemix gains an unspecified upfront payment along with research funds and milestones in exchange for identifying drug candidates for thee targets specified by Pfizer. Aptamers target proteins that trigger diseases, thwarting the process. The Cambridge, MA-based Archemix is already engaged with Elan in a separate discovery pact.

- see the press release for details
- read the report on the deal from The Boston Globe

Related Articles:
Nuvelo expands collaboration pact with Archemix. Report
What's next for Pfizer? Report
Pfizer to axe 2,200 sales jobs in realignment. Report

Press Release: Genentech and Seattle Genetics Announce Exclusive Global Licensing Agreement for SGN-40

Maureen Martino — Mon, 08 Jan 2007 12:43:46 -0500

Genentech and Seattle Genetics Announce Exclusive Global Licensing Agreement for Development and Commercialization of SGN-40
Seattle Genetics to Hold Conference Call Today at 4:30 p.m. ET

SOUTH SAN FRANCISCO, Calif. & BOTHELL, Wash. -- Genentech and Seattle Genetics, Inc. today announced that they have entered into an exclusive worldwide license agreement for the development and commercialization of SGN-40. SGN-40 is a humanized monoclonal antibody currently in Phase I and Phase II clinical trials for multiple myeloma, chronic lymphocytic leukemia and non-Hodgkin’s lymphoma.

Under the terms of the agreement, Seattle Genetics will receive an upfront payment of $60 million, potential milestone payments exceeding $800 million and escalating double-digit royalties on annual net sales of SGN-40. The milestone payments, which are dependent upon clinical and regulatory events across multiple disease indications worldwide, as well as attainment of certain annual net sales levels, include $20 million in committed payments during the first two years of the agreement. Genentech will fund future research, development, manufacturing and commercialization costs. Seattle Genetics will continue certain Phase I and Phase II clinical trials and development activities, the costs of which will be reimbursed by Genentech. Seattle Genetics also has an option for co-promotion rights on SGN-40 in the U.S. The completion of the agreement may be subject to Hart-Scott-Rodino approval under United States antitrust laws and customary closing conditions.

“This alliance enables us to accelerate and expand development of SGN-40 while we continue to advance our other promising clinical and preclinical development programs,” said Clay B. Siegall, Ph.D., President and Chief Executive Officer of Seattle Genetics. “Genentech’s oncology development expertise, commercial leadership and history of successful strategic alliances make it an ideal collaborator to bring the potential benefits of SGN-40 to patients.”

"We are very interested in the encouraging activity of SGN-40 observed in early clinical trials and we look forward to developing this antibody with Seattle Genetics, in addition to continuing our ongoing collaboration on antibody-drug conjugates," said Hal Barron, M.D., senior vice president, Development and chief medical officer for Genentech. "SGN-40 supports our commitment to developing new hematology therapeutics that may provide novel treatment approaches for a variety of serious hematologic diseases."

About SGN-40

SGN-40 is a humanized monoclonal antibody that targets the CD40 antigen, which is highly expressed on most B lineage hematologic malignancies including non-Hodgkin's lymphoma, multiple myeloma and chronic lymphocytic leukemia. CD40 is also found on many types of solid tumors, including bladder, renal and ovarian cancer, and may play a role in immunologic diseases.

Positive Phase I data were reported last month at the annual meeting of the American Society of Hematology demonstrating that SGN-40 is well tolerated and induces objective antitumor activity in patients with relapsed or refractory non-Hodgkin’s lymphoma. Based on these results, Seattle Genetics initiated a single-agent Phase II study designed to assess the antitumor activity, tolerability and pharmacokinetic profile of SGN-40 in patients with relapsed or refractory diffuse large B-cell lymphoma in December 2006. In addition, SGN-40 is being evaluated in Phase I clinical trials for relapsed or refractory multiple myeloma and chronic lymphocytic leukemia.

Conference Call Details

Seattle Genetics’ management will host a conference call and webcast to further discuss the agreement. The event will be held today at 1:30 p.m. Pacific Time (PT); 4:30 p.m. Eastern Time (ET). The live event will be available from the Seattle Genetics website at http://www.seattlegenetics.com, under the News and Investor Information section, or by calling (800) 218-8862 (domestic) or (303) 262-2175 (international). A replay of the discussion will be available beginning at approximately 3:30 p.m. PT today from Seattle Genetics’ website or by calling (800) 405-2236 (domestic) or (303) 590-3000 (international), using passcode 11081068. The telephone replay will be available until 6:00 p.m. PT on Friday, January 12, 2007.

About Seattle Genetics

Seattle Genetics is a biotechnology company developing monoclonal antibody-based therapies for the treatment of multiple types of cancer, including non-Hodgkin's lymphoma, multiple myeloma, acute myeloid leukemia and Hodgkin's disease. The company has also developed proprietary antibody-drug conjugate (ADC) technology comprised of highly potent synthetic drugs and stable linkers for attaching the drugs to monoclonal antibodies. In addition to its worldwide development agreement for SGN-40 with Genentech, Seattle Genetics currently has license agreements for its ADC technology with a number of leading biotechnology and pharmaceutical companies, including Genentech, Bayer, CuraGen, Progenics and MedImmune. More information can be found at http://www.seattlegenetics.com.

About Genentech

Founded more than 30 years ago, Genentech is a leading biotechnology company that discovers, develops, manufactures and commercializes biotherapeutics for significant unmet medical needs. A considerable number of the currently approved biotechnology products originated from or are based on Genentech science. Genentech manufactures and commercializes multiple biotechnology products and licenses several additional products to other companies. The company has headquarters in South San Francisco, California and is listed on the New York Stock Exchange under the symbol DNA. For additional information about the company, please visit http://www.gene.com.

Certain of the statements made in this press release are forward-looking, such as those, among others, relating to the therapeutic benefit and future advancement of SGN-40 by Seattle Genetics or Genentech. Actual results or developments may differ materially from those projected or implied in these forward-looking statements. Factors that may cause such a difference include risks related to adverse clinical results as SGN-40 advances in clinical trials, such as patients exhibiting progressive disease or severe adverse events, as well as the inability to achieve certain milestones or net sales levels. More information about the risks and uncertainties faced by Seattle Genetics is contained in the company’s filings with the Securities and Exchange Commission. Seattle Genetics disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

This press release contains a forward-looking statement regarding the development of SGN-40. Such statement is a prediction and involves risks and uncertainties such that the actual result may differ materially. Among other factors, the development of SGN-40 could be affected by a number of factors, including unexpected safety, efficacy or manufacturing issues, additional time requirements for data analyses and decision making, the need for additional clinical studies, intellectual property or contract rights, FDA actions or delays, the failure to obtain or maintain FDA approval. Please also refer to Genentech’s periodic reports filed with the Securities and Exchange Commission. Genentech disclaims, and does not undertake, any obligation to update or revise the forward-looking statement in this press release.