Genmab A/S Licenses Angiogenesis Targets From Bionomics Limited
COPENHAGEN, Denmark and ADELAIDE, Australia, Feb. 13 /PRNewswire/ -- Genmab has acquired exclusive worldwide rights to angiogenesis targets identified by Bionomics.
Genmab A/S (CSE: GEN) and Bionomics Limited announced today that Genmab has acquired exclusive worldwide rights to develop therapeutics based upon a series of angiogenesis targets identified by Bionomics.
Under the agreement, Genmab has acquired exclusive worldwide rights to eight proteins identified and characterized by Bionomics using its proprietary Angene(R) angiogenesis platform with potential utility in cancer and other diseases. Under the terms of the deal, Bionomics will receive an upfront fee and additional fees upon the first target achieving specified preclinical and clinical milestones. Bionomics will also receive milestone payments and royalties on product sales for each product that reaches the market.
The agreement represents the successful outcome of an earlier collaborative research and development partnership between the companies.
"We are pleased to exclusively license these targets from Bionomics, with which we have had an excellent working relationship since early 2002," said Lisa N. Drakeman, Ph.D., Chief Executive Officer of Genmab. "We believe that inhibiting angiogenesis bears promise for the development of antibody therapeutic approaches in angiogenesis-related diseases including cancer. These targets enrich and further strengthen Genmab's growing pre-clinical pipeline."
"We believe that Genmab is the ideal partner to develop these targets," commented Deborah Rathjen, Bionomics' Managing Director and CEO. "Genmab has rights to the key intellectual property required for the development of antibody therapeutics, and, with six products in the clinic, it has a strong record of clinical development."
Bionomics will retain rights to a large number of additional proprietary proteins it has discovered in its angiogenesis program, including the target BNO69. Bionomics is continuing to develop BNO69 as a target for small molecule therapeutics for the treatment of breast cancer.
The agreement will not influence Genmab's financial guidance for 2006 which will be presented on February 16, 2006.
Angiogenesis
Tumors and normal tissues require oxygen and nutrients for their survival and are therefore located close to blood vessels. In order for tumors to increase in size, they must be able to recruit new blood vessels by a process known as angiogenesis. This process is regulated by a balance between pro- and anti-angiogenic molecules, which when disrupted, contributes to cancer growth and metastasis. In addition to its involvement in cancer, angiogenesis is a critical process involved in chronic inflammatory diseases such as rheumatoid arthritis and serious eye diseases, in particular macular degeneration. Industry estimates suggest that diseases that may be treated by angiogenesis based therapies encompass 20 percent of the USD 322 billion global pharmaceuticals market.
About Genmab A/S
Genmab A/S is a biotechnology company that creates and develops human antibodies for the treatment of life-threatening and debilitating diseases. Genmab has numerous products in development to treat cancer, infectious disease, rheumatoid arthritis and other inflammatory conditions, and intends to continue assembling a broad portfolio of new therapeutic products. At present, Genmab has multiple partnerships to gain access to disease targets and develop novel human antibodies including agreements with Roche, Amgen and Serono. A broad alliance provides Genmab with access to Medarex, Inc.'s array of proprietary technologies, including the UltiMAb(R) platform for the rapid creation and development of human antibodies to virtually any disease target. Genmab has operations in Copenhagen, Denmark, Utrecht, the Netherlands, and Princeton, New Jersey in the US. For more information about Genmab, visit http://www.genmab.com.
About Bionomics Limited
Bionomics discovers and develops innovative therapeutics for cancer and diseases of the central nervous system. Bionomics has small molecule product development programs in the areas of cancer, anxiety, epilepsy and multiple sclerosis. Bionomics' most advanced program, the Vascular Disruption Agent (VDA) program for cancer, is based upon the identification of a novel compound that potently and selectively restricts blood flow to tumors. Bionomics' discovery and development activities are driven by its three technology platforms: Angene(R), the company's angiogenesis target and drug discovery platform, incorporates a variety of genomics tools to identify and validate novel angiogenesis targets. MultiCore(R) is Bionomics' proprietary, diversity orientated chemistry platform for the discovery of small molecule drugs. ionX(R) is a set of novel technologies for the identification of drugs targeting ion channels for diseases of the central nervous system. For more information about Bionomics, visit http://www.bionomics.com.au.
This press release contains forward looking statements. The words "believe", "expect", "anticipate", "intend" and "plan" and similar expressions identify forward looking statements. Actual results or performance may differ materially from any future results or performance expressed or implied by such statements. The important factors that could cause our actual results or performance to differ materially include, among others, risks associated with product discovery and development, uncertainties related to the outcome and conduct of clinical trials including unforeseen safety issues, uncertainties related to product manufacturing, the lack of market acceptance of our products, our inability to manage growth, the competitive environment in relation to our business area and markets, our inability to attract and retain suitably qualified personnel, the unenforceability or lack of protection of our patents and proprietary rights, our relationships with affiliated entities, changes and developments in technology which may render our products obsolete, and other factors. Genmab is not under an obligation to up-date statements regarding the future following the publication of this release; nor to confirm such statements in relation to actual results, unless this is required by law.
Factors Affecting Future Performance for Bionomics
This announcement contains "forward-looking" statements within the meaning of the United States' Private Securities Litigation Reform Act of 1995. Any statements contained in this press release that relate to prospective events or developments are deemed to be forward-looking statements. Words such as "believes," "anticipates," "plans," "expects," "projects," "forecasts," "will" and similar expressions are intended to identify forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by these forward-looking statements, including risks related to our available funds or existing funding arrangements, a downturn in our customers' markets, our failure to introduce new products or technologies in a timely manner, regulatory changes, risks related to our international operations, our inability to integrate acquired businesses and technologies into our existing business and to our competitive advantages, as well as other factors. Subject to the requirements of any applicable legislation or the listing rules of any stock exchange on which our securities are quoted, we disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.
UltiMAb(R) is a trademark of Medarex, Inc. Genmab(R); HuMax(R); HuMax-CD4(TM) and the Y-shaped Genmab logo are all trademarks of Genmab A/S.
FOR FURTHER INFORMATION PLEASE CONTACT: Helle Husted Dr Deborah Rathjen Director, Investor Relations CEO & Managing Director Genmab A/S Bionomics Limited Phone: +45 3344 7730 Phone: + 61 8 8354 6101
Bionomics LimitedCONTACT: Helle Husted, Director, Investor Relations of Genmab A-S,+45-3344-7730; or Dr Deborah Rathjen, CEO & Managing Director of BionomicsLimited, +61-8-8354-6101