GAITHERSBURG, Md. and LOS ANGELES, Sept 08, 2005 /PRNewswire-FirstCall via COMTEX News Network/ -- MedImmune, Inc. (Nasdaq: MEDI) and VasGene Therapeutics, Inc. announced today
that they have entered into a collaborative agreement to develop cancer-
focused monoclonal antibodies (MAbs) targeting a novel member of a subfamily
of receptor tyrosine kinases, EphB4, as well as its ligand, EphrinB2. Under
the terms of the agreement, MedImmune will be responsible for the clinical
development and commercialization of any resulting products. VasGene will
provide research and development support and receive an upfront fee,
development and regulatory milestone payments, as well as royalties on any
future marketed products.
"MedImmune continues to expand the breadth and depth of its oncology
product pipeline with promising new antibodies, targets and technologies,"
said Peter A. Kiener, D.Phil., MedImmune's senior vice president, research.
"Adding antibodies against EphB4 and EphrinB2 to our portfolio builds upon our
existing activities with Eph kinases, including ongoing work with EphA2 and
EphA4. As we further our research in this area, we hope to expand the growing
body of knowledge regarding the role Eph receptors may play in cancers, and we
look forward to working with VasGene to advance novel product candidates with
potential therapeutic applications."
"We are extremely pleased to announce our collaboration with MedImmune,"
said Raymond A. Mirra, Jr., VasGene's chairman and chief executive officer.
"MedImmune is highly experienced in the successful development of antibodies,
and together we are going to make every effort to advance these compounds into
the clinic."
About EphB4 and EphrinB2
EphB4 is a member of the Eph family, the largest subfamily of receptor
tyrosine kinases. EphB4 is found at high levels on tumor cells and in tumor-
associated blood vessels. The binding of EphB4 to its ligand, EphrinB2, has
been linked with the metastatic and angiogenic potential of many cancers, and
antibodies targeting EphB4 or EphrinB2 may selectively inhibit the growth and
survival of tumor cells and tumor-associated blood vessels.
About MedImmune
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 http://www.medimmune.com.
About VasGene
VasGene, a privately held biopharmaceutical company headquartered in Los
Angeles, California, is dedicated to the development and commercialization of
innovative therapeutics based on the understanding of vascular biology.
VasGene's products target signal transduction pathways common to cancer cells
and endothelial cells, resulting in powerful anti-cancer agents with multiple
modes of action: inhibition of tumor cell growth, anti-angiogenesis, and
prevention of tumor cell metastasis. For more information, visit
http://www.vasgene.com.
This announcement may contain, in addition to historical information,
certain forward-looking statements related to the targeting of Eph proteins
that involve risks and uncertainties. Such statements reflect management's
current views and are based on certain assumptions about the success of these
programs. 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 SEC. MedImmune is
developing Eph-related product candidates for potential future marketing.
There can be no assurance that such development efforts will succeed, that
such products will receive required regulatory clearance or that, even if such
regulatory clearance were received, such products would ultimately achieve
commercial success.
This press release can be found on MedImmune's website at
http://www.medimmune.com in the box marked "News" or with the archived press
releases on the Investor Summary page.
SOURCE MedImmune, Inc.; VasGene Therapeutics, Inc.
Media:
Jamie Lacey, +1-301-398-4035
Investors:
Peter Vozzo, +1-301-398-4358
both
of MedImmune, Inc.
Media:
Joe Tropiano of VasGene Therapeutics, Inc.
+1-610-237-1851