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Y's Therapeutics Co., Ltd. And Abmaxis, Inc. Announce Antibody Collaboration


10/19/2005 5:10:13 PM

MOUNTAIN VIEW, Calif. and TOKYO, March 2 /PRNewswire/ -- Y's Therapeutics Co., Ltd. and Abmaxis, Inc., both privately held biopharmaceutical companies, have entered into an agreement to collaborate on the development of a human monoclonal antibody drug targeting a specific antigen, which is overexpressed in many types of tumors. The antigen is also associated with autoimmune diseases. Under the terms of the agreement, Abmaxis will discover high affinity, human antibodies specific to the antigen and Y's will undertake further development of the product. Abmaxis will have rights to manufacture and market the antibody in China while Y's Therapeutics retains these rights in the U.S., Europe, Japan and the rest of the world. Financial terms were not disclosed.

"We believe that targeting this specific antigen, which has been extensively studied by Y's Therapeutics scientific co-founder Dr. Chikao Morimoto, will have great potential in the treatment of autoimmune disease and cancers such as T-cell lymphoma and liver tumors that have been very difficult to treat," stated Mr. Masanori Murayama, Co-founder, President and Chief Executive Officer of Y's Therapeutics. "We are very favorably impressed by the Abmaxis AISIM(TM) technology platform, which has already generated a number of humanized antibody candidates, expressed with excellent yields and stability, with high affinities suitable for therapeutic applications. We look forward to working with Abmaxis in our quest to deliver therapeutic antibodies to patients as quickly as possible."

Dr. Chikao Morimoto, the scientific Co-founder of Y's Therapeutics and a member of its Scientific Advisory Board, is a Research Professor at the University of Texas, MD Anderson Cancer Center and is a Professor of Medicine at the Institute of Medical Science, University of Tokyo, Japan. An internationally recognized expert in the field of immunology, Dr. Morimoto previously held academic appointments at Dana-Farber Cancer Institute and Harvard Medical School.

"We have a high degree of confidence in the potential drug development capability of Y's Therapeutics. We are pleased that Y's Therapeutics has selected Abmaxis to develop therapeutic antibodies targeted to their antigen, and we are eager to work with Y's Therapeutics and Dr. Morimoto, a world-renown expert in molecularly targeted drugs," commented Shirley Liu Clayton, Chief Executive Officer of Abmaxis. "From our proprietary library of sequence/structure information, we have the ability to custom design an antibody for their specific therapeutic requirements and to rapidly identify the optimal antibody."

About Y's Therapeutics

Y's Therapeutics, http://www.ysthera.com/, is a privately held drug development biotechnology company developing truly effective next-generation drugs with a focus on antibody therapeutics and small molecule products for cancer, autoimmune diseases and inflammatory diseases. Y's Therapeutics was founded in March 2003 on the study of Chikao Morimoto, M.D., Ph.D., Professor, The Institute of Medical Science, University of Tokyo and University of Texas, MD Anderson Cancer Center (UTMDACC), and Nam Hoang Dang, M.D., Ph.D., Assistant Professor, UTMDACC. Y's Therapeutics currently has five potential projects in the pipeline and is headquartered in Tokyo, Japan.

About Abmaxis

Abmaxis, http://www.abmaxis.com/, is a venture-backed biopharmaceutical company dedicated to the discovery and development of human therapeutic antibodies through efficient molecular design and selection. The company was founded in 2000 by three scientists who had worked together at Stanford, each bringing a unique expertise to the various stages of product discovery and development. Using its proprietary AISIM technology, Abmaxis has generated eight human antibody candidates with superior in vitro performance; has entered into a preclinical trial with one of them; and is developing human antibodies from novel murine antibodies. Abmaxis is using its technology platform for the development of its own products and to collaborate with partners who are looking for optimally functional antibody products. The company is located in Mountain View, California.

CONTACT: Shirley Liu Clayton, Chief Executive Officer of Abmaxis, Inc., +1-650-528-5120, ext. 130, or sclayton@abmaxis.com; or Ryuta Fujikawa, Director, Public Relations of Y's Therapeutics Co., Ltd., +011 81 3 35784126, or rfujikawa@ysthera.com.

CONTACT: Shirley Liu Clayton, Chief Executive Officer of Abmaxis, Inc., +1-650-528-5120, ext. 130, or sclayton@abmaxis.com; or Ryuta Fujikawa, Director, Public Relations of Y's Therapeutics Co., Ltd., +011 81 3 35784126, or rfujikawa@ysthera.com.

Y's Therapeutics Co., Ltd.; Abmaxis, Inc.

CONTACT: Shirley Liu Clayton, Chief Executive Officer of Abmaxis, Inc.,+1-650-528-5120, ext. 130, or sclayton@abmaxis.com; or Ryuta Fujikawa,Director, Public Relations of Y's Therapeutics Co., Ltd., +011 81 3 35784126,or rfujikawa@ysthera.com


Read at BioSpace.com


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