ARIUS Research Inc. Licenses Antibody To Genentech, Inc.
TORONTO, March 22 /PRNewswire-FirstCall/ - ARIUS Research Inc. today announced that it has licensed to Genentech, Inc. rights to one of ARIUS' novel anti-cancer antibodies and others in the same family for development in human disease.
Under the terms of the agreement, ARIUS will receive an upfront licensing fee and may receive milestone payments based on progress through clinical development as well as royalties on net sales of any products resulting from the collaboration. Genentech will assume the responsibility and costs of development and commercialization. Financial terms were not disclosed.
"Out-licensing one of our lead programs to Genentech achieves a number of key objectives for the company and represents a significant milestone under the ARIUS business model," said Dr. David Young, President of ARIUS Research Inc. "Genentech has demonstrated extensive scientific and commercialization expertise with antibodies for cancer and ARIUS is optimistic that, down the road, patients will have more and better treatment options arising from this collaboration."
The agreement represents the first anti-cancer antibody developed from ARIUS' FunctionFIRST(TM) platform to be out-licensed. Antibodies discovered through ARIUS' proprietary technology have demonstrated anti-tumor activity in animal models of a number of human cancers and have been shown to recognize important cancer targets.
Cancer affects approximately 1.55 million new patients each year in North America (sources: American Cancer Society, Canadian Cancer Society). ARIUS is researching treatments for the most common cancers and those with significant unmet medical need. There are eight antibodies currently available for treating cancer with a worldwide market value close of US$6.3 billion in 2005.
About ARIUS Research
ARIUS Research Inc. is a biotechnology company dedicated to personalizing cancer therapy through the discovery and development of novel anticancer monoclonal antibodies (MAbs). Established in 1999, ARIUS has built a proprietary technology platform, FunctionFIRST(TM), that rapidly identifies powerful MAbs targeting a variety of cancer indications. This antibody generation engine has enabled ARIUS to assemble a growing pipeline, which is used for commercial collaborations and in-house development. ARIUS has ongoing partnerships with key biotechnology and drug development companies. The company is listed on the TSX Venture Exchange under the symbol "ARI".
Certain statements in this news release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Forward-looking statements in this release include, but are not limited to, ARIUS successfully advancing its new product programs as well as licensing opportunities. These statements are only predictions and actual events or results may differ materially. Factors that could cause such actual events or results expressed or implied by such forward-looking statements to differ materially from any future results expressed or implied by such statements include, but are not limited to: early stage of development; technology and product development; dependence on and management of current and future corporate collaborations; future capital needs; uncertainty of additional funding; no assurance of market acceptance; dependence on proprietary technology and uncertainty of patent protection; intense competition; manufacturing and market uncertainties; and government regulation. These and other factors are described in detail in the company's Annual Report, forthcoming news releases and other filings with Canadian securities regulatory authorities available at www.sedar.com. Forward-looking statements are based on our current expectations and ARIUS is not obligated to update such information to reflect later events or developments.
Website: www.ariusresearch.com The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this statement.ARIUS Research Inc.
CONTACT: David S. Young, President & Chief Scientific Officer, Telephone:(416) 862-2323 Ext. 222, E-mail: email@example.com