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news.Antibodies developer Abgenix has announced that it will receive a milestone payment triggered by Amgen's advancement of an undisclosed antibody product candidate into clinical trials.
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The antibody was created using Abgenix’s proprietary XenoMouse technology and is the 11th antibody generated with Abgenix’s technology to move into the clinic phase.
“We are pleased to see another Amgen product candidate derived from our technology enter into the clinic,” said Bill Ringo, president and CEO of Abgenix. “We are encouraged about the potential of these technology licensing programs to contribute to future revenues.”
In 1999 Abgenix entered into an agreement with Amgen granting Amgen a license to Abgenix’s antibody generation technology. Amgen is responsible for product development and commercialization of any products developed through the collaboration. Abgenix may receive milestone payments and royalties of any future product sales.
Abgenix and Amgen have a separate co-development agreement for panitumumab, an EGFr inhibiting fully human monoclonal antibody that is currently in pivotal trials as a third line monotherapy for colorectal cancer.