Abgenix

ALSO NOTED: Gilmartin denies coverup; GeneThera debunks bankruptcy rumors; and much more...

Thu, 06 Apr 2006 20:00:50 -0400

> Former Merck chief Raymond Gilmartin insisted in court that the company had been up front about the risks associated with Vioxx. Attorney Mark Lanier, though, stressed that Gilmartin's bonuses had a lot to do with the value of Merck's stock and Vioxx. Report

> GeneThera of Wheat Ridge, CO, says that people are circulating false rumors that it is about to go bankrupt as a way to depress the company's stock price. Release

> Oscient Pharmaceuticals raised $35 million in a private placement. Report

> Orchid Cellmark has received a delisting notice from Nasdaq. Report

> Genelabs Technologies has been notified it may not meet Nasdaq's financial requirements for listing. Report

> Amgen laid off 98 workers at a manufacturing site in Fremont, CA, as it began to integrate the newly acquired Abgenix into its operations. Report

> Dr. Reddy's has received FDA approval for Amlodipine to treat high blood pressure and chest pain. Report

And Finally… U.S. officials rejected a new Swedish study that has found a link between cell phones and brain tumors. Report

Amgen posts positive Phase III data

Sun, 02 Apr 2006 20:01:38 -0400

Amgen has posted impressive late-stage trial data for its colorectal cancer drug panitumumab. Average tumor progression slowed by 46 percent among patients taking the drug every two weeks compared to patients receiving a standard therapy. And 36 percent of the patient achieved control of the disease, compared to 10 percent of patients in the supportive care group. Amgen also announced that it had closed on its $2.2 billion acquisition of Abgenix, which partnered with Amgen on panitumumab.

- read the AP report for more

DEALS: Amgen acquires Abgenix for $2.2 billion

Wed, 21 Dec 2005 19:01:32 -0500

Amgen acquires Abgenix for $2.2 billion

DEALS
WHO	WITH	WHAT	SCOOP
Amgen	Abgenix	$2.2 billion acquisition	The acquisition of Abgenix provides Amgen with full ownership of panitumumab, a colon cancer drug
Pharmion	GPC Biotech	$270 million licensing deal	The deal is for the co-development and license agreement for satraplatin, an oral platinum-based compound
AstraZeneca	Protherics	£195 million licensing deal	AstraZeneca has signed a development and commercialization agreement for Protherics' anti-sepsis treatment CytoFab
MedImmune	Biota Holdings	$112.5 million licensing deal	It is a collaboration to develop small-molecule compounds for preventing respiratory syncytial virus in infants
GlaxoSmithKline	Vertex	$20 million licensing deal	GSK will develop and commercialize VX-409, Vertex's subtype selective sodium channel modulator for the treatment of pain
Avigen	Genzyme Corporation	$12 million licensing deal	The deal is for the development of non-pain related AAV gene therapy assets
Indevus	Savient Pharmaceuticals	$5 million licensing deal	Savient is selling its injectable testosterone product for male hypogonadism, Delatestryl
Cyclacel	Xcyte	Merger agreement	The transaction will create a publicly-traded international biopharmaceutical company called Cyclacel Pharmaceuticals
ActivBiotics	Metaphore Pharmaceuticals	Merger agreement	Metaphore will become a wholly owned subsidiary of ActivBiotics

Amgen to buy Abgenix for $2.2B

Wed, 14 Dec 2005 19:01:39 -0500

Amgen has struck a deal to buy Abgenix for $2.2 billion in cash. The California-based Abgenix was able to fetch the price by providing Amgen with two experimental therapies that could turn into blockbusters. Its lead candidate is the colon cancer treatment panitumumab, which has demonstrated an ability to control tumor growth. Abgenix develops therapies by genetically engineering mice to produce antibodies. An Amgen spokesperson says the deal gives Amgen its first therapy for tumors.

"This investment reflects Amgen's commitment to our pipeline and our growing confidence in the future success of both panitumumab and denosumab," said Kevin Sharer, president and CEO of Amgen.

- read this report in the San Jose Mercury News for more information

C&L: Pigliucci resigns as CEO of Discovery Partners

Tue, 15 Nov 2005 19:01:32 -0500

Riccardo Pigliucci has resigned as CEO and chairman of Discovery Partners. Harry F. Hixson, Ph.D., currently the company's lead independent director, has assumed the role of chairman of the board and Michael C. Venuti, Ph.D., has been appointed the acting CEO.

Encysive Pharmaceuticals has appointed George W. Cole as COO. Cole previously served for more than 10 years in senior management roles with Altana Pharma US.

Daniel S. Lynch resigned as CEO and Director of ImClone Systems. Philip Frost, M.D., Ph.D., currently executive vice president and chief scientific officer, will serve as interim CEO while the board looks for a permanent replacement.

POZEN has named Everardus Orlemans, Ph.D., as vice president, clinical research. Most recently, Dr. Orlemans was executive director of the clinical development unit for Organon in the US.

J. Kris Piper has joined Xanthus Life Sciences as vice president of regulatory affairs and quality assurance. He had been vice president global preclinical and clinical regulatory affairs at Bracco.

Mpex Pharmaceuticals hired Mike Dudley, Pharm.D., as vice president of drug development. He had been vice president, preclinical and clinical sciences at Diversa.

PAREXEL International has appointed Glenn C. Van Deusen corporate vice president and general manager of medical marketing services. Van Deusen joined PAREXEL from Publicis Groupe.

Eurand has named Dr. Costantinos Efthymiopoulos, formerly a vice president with Serono, to the position of chief scientific officer.

Abgenix has named Jeffrey H. Knapp senior vice president of sales and marketing. For the majority of his executive career, Knapp held several positions of increasing responsibility at Eli Lilly.

FibroGen has named Russell H. Ellison as vice president of clinical development. Dr. Ellison was most recently vice president of medical affairs and chief medical officer at Sanofi-Synthelabo.

Immtech International has appointed Dina Grinshpun as vice president, general and IP Counsel. Ms. Grinshpun previously worked at Fish & Richardson P.C.

MonoSolRx has hired Madhu Hariharan, Ph.D, and Bruce Detwiler from Abbott Laboratories and Cardinal Health, respectively. Dr. Hariharan joins MonoSolRx as director, product development. Bruce Detwiler joins as packaging engineer.

Schering-Plough has named Andre van de Sande general manager of Schering-Plough Netherlands based in Utrecht.

AlgoRx Pharmaceuticals and Corgentech named Robert L. Zerbe, M.D., as the ninth board member for the combined company.

Novacea appointed Daniel M. Bradbury to the company's board of directors.

AVANIR Pharmaceuticals has elected Scott M. Whitcup, M.D., to the company's board of directors to fill a vacancy resulting from the resignation of Kenneth E. Olson.

Cylex Incorporated has named Thomas Bologna to its board of directors.

Protalex has appointed Peter G. Tombros to the company's board of directors.

ALSO NOTED: Amgen, Abgenix stock soars; Cytori, Olympus collaborate; GSK builds new facility; and much more...

Thu, 03 Nov 2005 19:00:50 -0500

> On the heels of yesterday's announcement of Amgen and Abgenix's successful colorectal study, both companies stock prices soared while rival ImClone enjoyed less success. Article

> Cytori Therapeutics and Olympus announced that they will collaborate to develop and manufacture systems for stem and regenerative cell therapies. Release

> GSK is planning to invest $115 million in a new laboratory facility in Singapore. The purpose of the site will be to convert experimental molecules into medicines in order to bolster GSK's internal pipeline. Release

> UK biotech Biopure as received approval to begin phase 2 trials for experimental oxygen therapeutic Hemopure, a therapy for patients healing from lower limb amputation. Report

And Finally... Researchers say that combining aspirin with the drug clopidogrel (Sanofi-Aventis' Plavix) could prevent thousands of deaths. Report

Amgen, Abgenix exceed expectation in phase 3 colorectal cancer study

Wed, 02 Nov 2005 19:01:37 -0500

Amgen and Abgenix have announced that that a Phase 3 study of panitumumab met the primary endpoint of improving progression-free survival in patients with metastatic colorectal cancer (mCRC). Of the 463 patients in the trial, those who received panitumumab every two weeks showed a 46 percent decrease in tumor progression rate versus those who received best supportive care alone. The 46 percent decrease surpassed the trial's primary endpoint, which aimed for a 33 percent decrease in tumor progression. A secondary endpoint of objective response rate, as assessed by central radiology review, was also met.

- read this press release for more

Amgen, Abgenix win fast-track for experimental cancer therapy

Sun, 31 Jul 2005 20:01:37 -0400

The FDA has given its fast track designation to Amgen and Abgenix for panitumumab, an experimental fully human monoclonal antibody directed against the epidermal growth factor receptor, for patients with metastatic colorectal cancer who have failed standard chemotherapy treatment. News that the cancer drug was being put on a swift review process sent shares of both companies higher this morning.

- read this press release for more

Abgenix slashes staff, concentrates on panitumumab

Tue, 28 Jun 2005 20:01:39 -0400

Abgenix plans to lay off about 15 percent of its work force -- some 58 employees -- as it concentrates its research efforts on pipeline development. As part of the restructuring, Abgenix will sublease research space in California. It is retaining trial and manufacturing facilities. Officials say they will focus more on its most promising drug candidate -- panitumumab -- which is being developed with Amgen as a cancer therapy.

"We concluded from our strategic review that we have excess capacity, primarily in our research personnel and facilities, and believe we will maximize efficiency by consolidating our research and preclinical activities in our Canadian location," said Bill Ringo, president and CEO of Abgenix. "These adjustments will enable us to expand our development and commercial operations later this year and next, as we prepare for the manufacturing and potential co-promotion of panitumumab with our partner, Amgen."

- read this press release for more