XOMA
and Takeda Expand Collaboration
BERKELEY,
Calif. and Osaka, Japan, Feb 10, 2009 -- XOMA Ltd. (Nasdaq:XOMA) and Takeda
Pharmaceutical Company Limited (TSE4502:Takeda) announced today they have
expanded their existing collaboration to provide Takeda with access to multiple
antibody technologies, including a suite of research and development
technologies and integrated information and data management
systems. XOMA will receive a $29 million expansion fee and may
receive potential milestones and royalties on antibody products. XOMA
may incur an estimated $7.5 million for taxes and other costs related to the
expanded collaboration.
“This
collaboration expansion is intended to help accelerate Takeda’s corporate goal
of building a world class, highly competitive antibody product pipeline by
augmenting its already significant in-house capabilities located in San
Francisco and Osaka.” said Shigenori Ohkawa, PhD, General Manager of
Pharmaceutical Research Division of Takeda. “With the antibody technologies of
XOMA, we will further complement our antibody research activities for the
creation of new drugs.”
“We are
pleased to expand an already successful collaboration with Takeda”, said Steven
Engle, Chairman and Chief Executive Officer of XOMA. “Antibodies are playing an
increasingly important role in the future of patient-care. Innovation
in antibody technology is accelerating to meet this need. This
expansion is evidence of XOMA’s leadership in the field of antibody discovery
and development.”
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About
the Takeda and XOMA collaboration
In
November 2006, XOMA and Takeda initiated a collaboration in which XOMA is using
its extensive collection of antibody phage display libraries and antibody
optimization technologies to discover therapeutic antibodies in multiple
therapeutic areas. XOMA activities may also 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 has
manufacturing rights once a product enters into phase 2 clinical trials. The
collaboration 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. In February 2007, the collaboration
was expanded to increase the number of potential therapeutic antibody
programs.
About
XOMA
XOMA
discovers, develops and manufactures therapeutic antibody and other agents
designed to treat inflammatory, autoimmune, infectious and cancerous diseases.
The company's proprietary product pipeline includes XOMA 052, an anti-IL-1 beta
antibody, and XOMA 3AB, a biodefense anti-botulism antibody candidate. XOMA has
multiple revenue streams resulting from the licensing of its antibody
technologies, product royalties, development collaborations and biodefense
contracts. For more information, please visit http://www.xoma.com.
About
Takeda
Located in Osaka, Japan, Takeda
(TSE:4502) 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. Additional information about Takeda is available
through its corporate website, www.takeda.com.
Forward-Looking
Statements
Certain
statements contained herein concerning product development and capabilities of
our 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 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.