XOMA 052 Selected as a Top Ten Project to Watch
BERKELEY, Calif., Nov. 12, 2009 (GLOBE NEWSWIRE) -- XOMA Ltd. (Nasdaq:XOMA), a leader in the discovery and development of antibody therapeutics, announced its anti-inflammatory antibody to interleukin-1 beta (IL-1 beta), XOMA 052, has been selected as a Top Ten Cardiovascular/metabolic Project to Watch for partnering opportunities. The selection was made by Windhover and Elsevier Business Intelligence, the leading provider of business intelligence and analysis in the pharmaceutical, biotechnology and medical device industries.
Selected companies were screened using a strict set of judging criteria and represent what the selection committee considered the most attractive opportunities the industry has to offer. Winners met rigorous criteria including: unmet medical need, market potential, diversity of indications, strong science, multi-level partnering opportunities, potential for new opportunities beyond initial indications, and corporate stability.
"We believe that XOMA 052 is a potentially transformational opportunity for XOMA that can lead to multiple therapeutic approaches in major indications and bring benefits to millions of patients with cardiovascular and diabetic disease," said Steven Engle, Chairman and Chief Executive Officer of XOMA. "We are honored by this industry recognition." Mr. Engle will present at the Windhover Therapeutic Area Partnerships event in Boston on November 18, 2009. Additional information is available at www.tapartnerships.com
XOMA 052 has potential for use in a potentially wide range of diseases. Phase 2 development is currently underway in diabetes and cardiovascular disease. Earlier this year, XOMA announced results from successful Phase 1 trials of XOMA 052 in Type 2 diabetes patients, demonstrating that XOMA 052 was well tolerated and showed biologic activity in diabetic parameters and reduction in biomarkers associated with cardiovascular risk.
About XOMA
XOMA discovers, develops and manufactures novel antibody therapeutics for its own proprietary pipeline as well as through license and collaborative agreements with pharmaceutical and biotechnology companies, and under its contracts with the U.S. government. The company's proprietary product pipeline includes:
* XOMA 052, an anti-IL-1 beta antibody in Phase 2 development for diabetes and cardiovascular disease, with potential for the treatment of a wide range of inflammatory diseases * XOMA 3AB, an antibody candidate in pre-IND studies to neutralize the botulinum toxin, among the most deadly potential bioterror threats, under development through funding provided by the National Institutes of Allergy and Infectious Diseases of the National Institutes of Health * A preclinical pipeline with candidates in development for inflammatory, autoimmune, infectious and oncological diseases.
In addition to its proprietary pipeline, XOMA develops products with premier pharmaceutical companies including Novartis AG, Merck & Co., Inc. and Takeda Pharmaceutical Company Limited.
XOMA has multiple revenue streams resulting from the licensing of its antibody technologies, product royalties, development collaborations and biodefense contracts. XOMA's technologies have contributed to the success of marketed antibody products, including LUCENTIS(R) (ranibizumab injection) for wet age-related macular degeneration and CIMZIA(R) (certolizumab pegol) for rheumatoid arthritis and Crohn's disease.
The company has a premier antibody discovery and development platform that incorporates an unmatched collection of antibody phage display libraries and proprietary Human Engineering(TM), affinity maturation, Bacterial Cell Expression (BCE) and manufacturing technologies. BCE is a key breakthrough biotechnology for the discovery and manufacturing of antibodies and other proteins. As a result, more than 50 pharmaceutical and biotechnology companies have signed BCE licenses, and several licensed product candidates are in clinical development.
XOMA has a fully integrated product development infrastructure, extending from pre-clinical science to approval, and a team of about 200 employees at its Berkeley, California location. For more information, please visit http://www.xoma.com.
Forward-Looking Statements
Certain statements contained herein concerning product development and capabilities of XOMA's technologies or that otherwise relate to future periods are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on assumptions that may not prove accurate. Actual results could differ materially from those anticipated due to certain risks inherent in the biotechnology industry and for companies engaged in the development of new products in a regulated market.
These risks, including those related to inability to comply with NASDAQ's continued listing requirements; the declining and generally unstable nature of current economic conditions; the results of discovery research and pre-clinical testing; the timing or results of pending and future clinical trials (including the design and progress of clinical trials; safety and efficacy of the products being tested; action, inaction or delay by the FDA, European or other regulators or their advisory bodies; and analysis or interpretation by, or submission to, these entities or others of scientific data); changes in the status of existing collaborative and licensing relationships; the ability of collaborators, licensees and other third parties to meet their obligations; XOMA's ability to meet the demands of the United States government agency with which it has entered into its government contracts; competition; market demands for products; scale-up and marketing capabilities; availability of additional licensing or collaboration opportunities; international operations; share price volatility; XOMA's financing needs and opportunities; uncertainties regarding the status of biotechnology patents; uncertainties as to the costs of protecting intellectual property; and risks associated with XOMA's status as a Bermuda company, are described in more detail in XOMA's most recent filing on Form 10-K and in other SEC filings. Consider such risks carefully when considering XOMA's prospects.
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CONTACT: XOMA Ltd.
Company and Investor Contact:
Carol DeGuzman
510-204-7270
deguzman@xoma.com
Porter Novelli Life Sciences
Media Contact:
Carolyn Hawley
619-849-5375
chawley@pnlifesciences.com
Released November 12, 2009