Lexicon Genetics and XOMA Establish Collaboration for Antibody
Drug Development and Commercialization
THE WOODLANDS, Texas; BERKELEY, Calif., June 21 /PRNewswire-FirstCall/ --
Lexicon Genetics Incorporated (NASDAQ:LEXG) and XOMA Ltd. (NASDAQ:XOMA)
announced today the formation of a collaboration to jointly develop and
commercialize antibody drugs for certain targets discovered by Lexicon. The
collaboration is designed to combine Lexicon's target discovery and
biotherapeutics capabilities with XOMA's antibody generation, process
development and manufacturing expertise to accelerate the development and
commercialization of novel therapeutic antibodies.
During the three-year initial term, Lexicon will select for submission to the
collaboration targets from among those discovered and analyzed in its
Genome5000(TM) program. In this program, Lexicon is using its gene knockout
technology to discover the physiological functions of 5,000 potential drug
targets. XOMA will generate or engineer antibodies that modulate the
collaboration's targets using phage display libraries and its proprietary Human
Engineering(TM) technology. Lexicon and XOMA will jointly develop and
commercialize novel antibodies directed at these targets and will share the
responsibility and costs for research, preclinical, clinical and
commercialization activities. Costs and profits will be allocated 65% to
Lexicon and 35% to XOMA. XOMA will have principal responsibility for
manufacturing antibodies for use in clinical trials and commercial sales.
Lexicon and XOMA have already selected an initial target for inclusion in the
collaboration. This target is a secreted protein that, when knocked out,
results in leanness, resistance to diet-induced obesity and enhanced insulin
sensitivity. Antibodies to this target may have utility in the treatment of
type II diabetes, obesity and metabolic diseases. Lexicon has agreed to submit
at least two other targets for consideration by the collaboration during the
initial term.
"XOMA's broad array of antibody technologies and its strong intellectual
property position in this area provide the collaboration a range of options for
the development of Lexicon's promising antibody targets," said Arthur T. Sands,
M.D., Ph.D., president and chief executive officer of Lexicon. "In addition,
XOMA's process development and manufacturing capabilities will enable us to
move more rapidly through development and to the commercialization of our
future therapeutic products." "Lexicon's validated antibody targets create a strong foundation for developing
new and unique therapeutics based on novel mechanisms of action," said John L. Castello, president, chairman and chief executive officer of XOMA. "Combining
these targets with XOMA's antibody expertise should create a formula for
successful drug development." About Lexicon Genetics Lexicon Genetics is a biopharmaceutical company focused on the discovery and
development of breakthrough treatments for human disease. Lexicon is
systematically discovering the physiological and behavioral functions of genes
to identify potential points of therapeutic intervention, or drug targets. Lexicon makes these discoveries using its proprietary gene knockout technology
to model the physiological effects that could be expected from prospective
drugs directed against novel targets. The Company has advanced knockout-
validated targets into drug discovery programs in six therapeutic areas:
diabetes and obesity, cardiovascular disease, psychiatric and neurological
disorders, cancer, immune system disorders and ophthalmic disease. Lexicon is
working both independently and through strategic collaborations and alliances
to accelerate the development and commercialization of its discoveries. Additional information about Lexicon is available through its corporate
website, http://www.lexicon-genetics.com/ .
Lexicon Genetics Safe Harbor Statement This press release contains "forward-looking statements," including statements
about Lexicon's growth and future operating results, discovery and development
of products, strategic alliances and intellectual property, as well as other
matters that are not historical facts or information. These forward-looking
statements are based on management's current assumptions and expectations and
involve risks, uncertainties and other important factors, specifically
including those relating to Lexicon's ability to successfully conduct
preclinical development of its drug candidates and advance such candidates into
clinical development, achieve its operational objectives, obtain patent
protection for its discoveries and establish strategic alliances, as well as
those relating to manufacturing, the regulatory process, intellectual property
rights, and the therapeutic or commercial value of its drug candidates, that
may cause Lexicon's actual results to be materially different from any future
results expressed or implied by such forward-looking statements. Information
identifying such important factors is contained under "Factors Affecting
Forward-Looking Statements" and "Business - Risk Factors" in Lexicon's annual
report on Form 10-K for the year ended December 31, 2004, as filed with the
Securities and Exchange Commission. Lexicon undertakes no obligation to update
or revise any such forward-looking statements, whether as a result of new
information, future events or otherwise.
About XOMA XOMA develops for commercialization antibody and other protein-based
biopharmaceuticals, with a therapeutic focus on cancer, immune disorders and
infectious diseases. XOMA has a royalty interest in RAPTIVA(R), a product
marketed worldwide that was developed in collaboration with Genentech, Inc. The
Company pipeline includes proprietary products along with collaborative product
development programs. For more information about XOMA's product pipeline and
antibody product development capabilities and technologies, please visit XOMA's
website at http://www.xoma.com/ .
XOMA Safe Harbor Statement Certain statements contained herein concerning current collaborations and
product development 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, pre-clinical 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), changes in the status of the existing collaborative
relationships, the ability of collaborators and other partners to meet their
obligations, market demand for products, scale up and marketing capabilities,
competition, uncertainties regarding the status of biotechnology patents,
uncertainties as to the cost of protecting intellectual property and risks
associated with XOMA's status as a Bermuda company, are described in more
detail in the Company's most recent annual report on Form 10-K and in other SEC
filings. Consider such risks carefully in considering XOMA's prospects. DATASOURCE: Lexicon Genetics Incorporated; XOMA Ltd.
CONTACT: Bobbie Faulkner, Manager, Investor Relations of Lexicon Genetics Incorporated, +1-281-863-3503, or ; or media relations, Deb McManus, APR, +1-510-204-7240, or investor relations, Ellen M.
Martin of Kureczka-Martin Associates, +1-510-832-2044, both for XOMA Ltd.
Web site: http://www.lexicon-genetics.com/ http://www.xoma.com/
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