GAITHERSBURG, Md. and GERMANTOWN, Md., June 20 /PRNewswire-FirstCall/ --
MedImmune, Inc. (Nasdaq: MEDI) and Avalon Pharmaceuticals, Inc. today
announced a collaboration to discover and develop small molecule therapeutic
compounds in the area of inflammatory disease. Avalon will use its
AvalonRx(TM) drug discovery engine to identify lead compounds. MedImmune will
be responsible for preclinical and clinical testing of any resulting product
candidates, as well as all future development and sales and marketing
Under the terms of the agreement, Avalon will receive an upfront payment,
research and development support, milestone payments and royalties on any
future marketed products. MedImmune also has the option to initiate two
additional small molecule drug discovery collaborations with Avalon under
"This collaboration with Avalon expands the breadth of our research to
include small molecules as potential therapies for various inflammatory
diseases," stated Edward T. Mathers, MedImmune's senior vice president of
corporate development. "We look forward to investigating Avalon's proprietary
drug discovery technology with the hope that our combined efforts will lead to
developing new treatment options for patients suffering from debilitating
"We are excited to be MedImmune's first partner in the discovery and
optimization of small molecule therapeutic compounds," stated Ken Carter,
Avalon's chief executive officer. "It is also significant that this is our
first major program with our AvalonRx drug discovery platform in a therapeutic
area beyond our internal cancer focus."
About MedImmune, Inc.
MedImmune strives to provide better medicines to patients, new medical
options for physicians, rewarding careers to employees, and increased value to
shareholders. Dedicated to advancing science and medicine to help people live
better lives, the company is focused on the areas of infectious diseases,
cancer and inflammatory diseases. With approximately 2,000 employees
worldwide, MedImmune is headquartered in Maryland. For more information, visit
the company's website at http://www.medimmune.com.
Avalon Pharmaceuticals is a biopharmaceutical company focused on the
discovery and development of small molecule therapeutics for the treatment of
cancer. Avalon seeks to discover and develop novel therapeutics through the
use of a comprehensive, innovative and proprietary suite of technologies based
upon large-scale gene expression analysis which it calls AvalonRx(TM). Avalon
Pharmaceuticals was established in 1999 and is headquartered in Germantown,
This announcement contains, in addition to historical information, certain
forward-looking statements that involve risks and uncertainties, in
particular, related to the research and development of future small molecule
products. Such statements reflect the current views of MedImmune and/or
Avalon management and are based on certain assumptions. Actual results could
differ materially from those currently anticipated as a result of a number of
factors, including risks and uncertainties discussed in MedImmune's filings
with the U.S. Securities and Exchange Commission. There can be no assurance
that such development efforts will succeed, that the products will receive
required regulatory clearance or, even if such regulatory clearance is
received, that the subsequent products will ultimately achieve commercial
SOURCE MedImmune, Inc.
Peter Vozzo, +1-301-398-4358
both of MedImmune, Inc.
Gary Lessing, Chief Financial
Avalon Pharmaceuticals, Inc.
Emily Poe, Vice
President of Noonan Russo
for Avalon Pharmaceuticals, Inc.