News
Release
XOMA
and Takeda Establish
Collaboration for Therapeutic Antibody
Discovery and Development
Berkeley,
CA and Osaka, JAPAN -
November
2, 2006
- XOMA
Ltd. (Nasdaq: XOMA) and Takeda Pharmaceutical Company Limited (TSE4502:Takeda)
today announced that they have entered into an agreement for therapeutic
monoclonal antibody discovery and development. The collaboration is intended
to
capitalize on XOMA’s comprehensive antibody discovery, development and
production technologies and expertise.
The
agreement calls for Takeda to make up-front and milestone payments to XOMA,
fund
XOMA’s R&D activities including manufacturing of the antibodies for
preclinical and early clinical supplies, and pay royalties to XOMA on sales
of
products resulting from the collaboration. Payments to XOMA could exceed $100
million before royalties over the life of the collaboration.
Using
its
extensive collection of phage display libraries and antibody optimization
technologies, XOMA will discover therapeutic antibodies against multiple targets
selected by Takeda. Other XOMA activities will include preclinical studies
to
support regulatory filings, cell line and process development, and production
of
antibodies for initial clinical trials. Takeda will be responsible for clinical
trials and commercialization of drugs after IND submission, and is granted
the
right to manufacture once the product enters into phase 2 clinical trials.
“XOMA’s
extensive antibody discovery and development expertise and technologies fit
well
with Takeda’s objective of building a strategic presence and pipeline in
therapeutic antibodies.
We look
forward to working with our new partner,”
said
John
L.
Castello, chairman of the board, president, and chief executive officer of
XOMA.
“We
are
pleased with the conclusion of the agreement with XOMA, which has
state-of-the-art technology in the antibody field,” said Shigenori Ohkawa, PhD,
General Manager of Pharmaceutical Research Division of Takeda. “We believe that
the collaboration with XOMA will accelerate our drug discovery and development
activities in therapeutic antibodies, a field that continues to grow as an
important source of new medicines.”
About
XOMA
XOMA
is a
leader in the discovery, development and manufacture of therapeutic antibodies,
with a therapeutic focus that includes cancer and immune diseases. XOMA has
royalty interests in RAPTIVA®
(efalizumab), a monoclonal antibody product marketed worldwide (by Genentech,
Inc. (NYSE: DNA) and Serono, SA) to treat
moderate-to-severe
plaque psoriasis, and LUCENTIS™
(ranibizumab
injection), a monoclonal antibody product marketed worldwide (by Genentech
and
Novartis AG (NYSE: NVS)) to treat neovascular
(wet) age-related macular degeneration.
The
company has built a premier antibody discovery and development platform that
includes access to seven of the leading commercially available antibody phage
display libraries and XOMA’s proprietary Human Engineering™ and bacterial cell
expression (BCE) technologies. More than 45 companies have signed BCE licenses.
XOMA’s development collaborators include Lexicon Genetics, Inc. (Nasdaq: LEXG),
Novartis, Schering-Plough Corporation (NYSE: SGP) and Takeda Pharmaceutical
Company Limited (TSE4502:Takeda). With a fully integrated product development
infrastructure, XOMA’s product development capabilities extend from preclinical
sciences to product launch. For more information, please visit the company's
website at www.xoma.com.
About
Takeda
Located
in
Osaka, Japan, Takeda is a research-based global company with its main focus
on
pharmaceuticals. As the largest pharmaceutical company in Japan and one of
the
global leaders of the industry, Takeda is committed to striving toward better
health for individuals and progress in medicine by developing superior
pharmaceutical products.
Aiming
to
become an “R&D-driven world-class pharmaceutical company”, Takeda is
enhancing its R&D pipeline by concentrating its management resources for
that purpose in the following selected core therapeutic areas:
n |
lifestyle-related
diseases,
|
n |
oncology
and urological diseases
|
n |
central
nervous system disorders, bone/joint
diseases
|
n |
gastroenterological
diseases
|
Additional
information about Takeda is available through its corporate website,
www.takeda.com.
XOMA
Contact:
Paul
Goodson
Sr.
Director, Investor Relations
Tel:
(510)
204-7270
goodson@xoma.com
Takeda
Pharmaceutical Company Limited Contact:
Corporate
Communications Department
Head
Office: +81-6-6204-2060
Tokyo
Head
Office: +81-3-3278-2039
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Certain
statements contained herein concerning product development 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. Such statements include, but are not limited to, payments
to XOMA could exceed $100 million before royalties over the life of the
collaboration. Such 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. In particular, XOMA
will not receive the estimated total amounts of funds if it cannot successfully
discover and develop antibodies in this collaboration. These and other risks,
including those related to the results of discovery research and preclinical
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); uncertainties regarding the status
of biotechnology patents; uncertainties as to the cost of protecting
intellectual property; changes in the status of the existing collaborative
and
licensing relationships; the ability of collaborators, licensees and other
third
parties to meet their obligations; market demand for products; scale up and
marketing capabilities; competition; international operations; share price
volatility; XOMA’s financing needs and opportunities and risks associated with
XOMA’s status as a Bermuda company, are described in more detail in XOMA’s most
recent annual report on Form 10-K and in other SEC filings. Consider such risks
carefully in considering XOMA’s prospects.