Message #21 From:
Stock News Bot Date: July 12, 2006 06:00:00 AM
XOMA News XOMA to Receive New Royalty Stream From Bacterial Production License; LUCENTIS(TM) is First Approved Drug Licensed Under XOMA's BCE Program
BERKELEY, Calif.--(BUSINESS WIRE)--July 12, 2006--XOMA Ltd. (Nasdaq:XOMA) today announced that LUCENTIS(TM), owned by Genentech, Inc. (NYSE:DNA) and recently approved by the FDA for the treatment of neovascular (wet) age-related macular degeneration, is the first marketed therapeutic product by a licensee of XOMA's Bacterial Cell Expression (BCE) technology. XOMA will receive a royalty on worldwide sales of LUCENTIS(TM). Another drug, CIMZIA(TM) (certolizumab pegol, CDP870), owned by UCB (Euronext-Brussels:UCB), has been submitted to the FDA and European regulators for approval in Crohn's disease and is currently in Phase 3 clinical trials for rheumatoid arthritis.
"Over time, we believe that a number of drugs covered by our BCE licenses may be approved, and the collective royalty streams and other payments may provide a significant source of revenue to XOMA," said Jack Castello, XOMA's Chairman, President and CEO. "The approval of LUCENTIS(TM) marks an important milestone in XOMA's progress toward building a stable financial base from multiple business activities while we continue to pursue our primary objective -- the commercialization of our own proprietary and partnered drug candidates."
A pioneer and leader in therapeutic antibodies, XOMA holds a broad portfolio of patents, both U.S. and foreign, relating to the expression of antibodies, antibody fragments and other proteins in bacteria. XOMA's BCE licensing program includes production and research licenses, which to date have been signed with more than 45 pharmaceutical and biotechnology companies. XOMA has also provided its BCE technology in cross-license arrangements that have allowed XOMA to gain access to seven of the world's leading phage display libraries and other technologies critical to its antibody discovery and development programs. As a matter of policy, XOMA generally does not disclose royalty percentages, up-front or milestone payments, or other financial terms of specific licenses.
About Bacterial Cell Expression Technology
Genetically engineered bacteria can be the appropriate choice for recombinant expression of target proteins for biopharmaceutical research and development. Bacterial antibody expression is an enabling technology for the discovery and selection, as well as the development and manufacture, of recombinant protein pharmaceuticals, including diagnostic and therapeutic antibodies and antibody fragments for commercial purposes. Bacterial antibody expression is also a key technology used in multiple systems for high-throughput screening of antibody domains. Expression of antibodies and antibody fragments by phage display technology, for example, requires the expression and secretion of antibody domains from bacteria. XOMA scientists have developed efficient and cost-effective bacterial expression technologies for producing antibodies, antibody fragments, and other recombinant protein products in support of XOMA's own biopharmaceutical development efforts as well as those of other companies under license from XOMA.
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.
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(TM) and bacterial cell expression (BCE) technologies. More than 45 companies have signed BCE licenses. As a leader in therapeutic antibodies, XOMA has established a unique and comprehensive collection of technologies for antibody discovery, optimization, development and production. 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.
Certain statements contained herein concerning product development or sales 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. Among other things, sales of LUCENTIS(TM) may be lower than expected; products other than LUCENTIS(TM) being developed under XOMA's BCE licenses may not receive regulatory approval; royalties from BCE licenses may never become a significant source of revenue for XOMA; XOMA may never attain a stable financial base; and XOMA may never commercialize any of its own or partnered drugs currently under development. These and other risks, including those related to sales of LUCENTIS(TM) being the responsibility of a third party; the ability of collaborators, licensees and other third parties to meet their obligations; market demand for products; scale up and marketing capabilities; competition; the results of discovery research and preclinical testing; the manufacture of antibodies under cGMP requirements; 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; 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.
