12/19/2011 6:30:52 AM
LOS ALTOS, Calif., Dec. 16, 2011/PRNewswire-iReach/ -- AbGenomics International, Inc. today announced that, effective February 13, 2012, it will regain global rights to AbGn-168H, a humanized monoclonal antibody against CD-162, as part of an agreedupon arrangement following the termination of its collaboration with Boehringer Ingelheim, Germany. AbGn-168H preferentially induces apoptosis of late-stage activated T-cells and is being developed for the treatment of psoriasis and other immunological diseases.
Data are available from two phase one clinical trials under this development program. AbGenomics plans to continue the development of AbGn-168H in psoriasis as well as in other immune and inflammatory disease indications and will therefore seek a new partner.
"AbGenomics has had an excellent collaboration with Boehringer Ingelheim since 2005," said Dr. Rong-Hwa Lin, founder and CEO of AbGenomics. We greatly appreciate the many contributions of the Boehringer Ingelheim team particularly with respect to its development and manufacture of the drug substance and drug product as well as advancing the program into the clinical trial stage. We also appreciate their support during this transition period as we continue the preparations for the next clinical trial."
"We believe that the unique mechanism of action of AbGn-168H is applicable to a wide variety of immunological diseases," said Dr. Lin. "While we will continue to develop AbGn-168H for psoriasis, regaining the global rights will also permit us to consider other indications that will take advantage of the full therapeutic potential of this drug."
About AbGenomics (www.abgenomics.com)
AbGenomics is a biopharmaceutical company focused on the discovery and development of novel medicines to treat diseases with unmet medical need and significant market potential. Currently, the company has two therapeutic candidates in clinical trials. Headquartered in San Francisco Bay Area, U.S., AbGenomics has subsidiaries in the Netherlands and in Taiwan. The Company's strategy is to commercialize its novel products in collaboration with major pharmaceutical partners in order to maximize the opportunity for development and marketing of the Company's compounds.
Media Contact: RUTH LI ABGENOMICS INTERNATIONAL INC., 650-988-9912, ABG@ABGENOMICS.COM
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SOURCE AbGenomics International, Inc.