Wyeth Collaboration Update
Oxford Biomedica PLC
04 March 2003
04 March 2003
WYETH EXERCISES OPTION ON OXFORD BIOMEDICA'S
ANTI-TUMOUR ANTIBODY
Oxford, UK: 4 March 2003 - Oxford BioMedica announced that its collaboration
with Wyeth (NYSE: WYE), on the development of an anti-cancer monoclonal antibody
linked to a cytotoxic drug, had reached a key milestone. Wyeth has exercised its
option to be granted an exclusive license to Oxford BioMedica's antibody.
Under the original agreement, announced in January 2001, Wyeth had been given an
option to acquire exclusive development and worldwide marketing rights for the
antibody for all human cancer indications. In addition, Wyeth assumes full
responsibility for the programme and the costs of development, clinical
research, marketing and manufacture of the products that may result from the
research effort.
The potential value of the deal for Oxford BioMedica is $24 million, comprising
upfront payments, license option fees and milestone payments. Additionally,
Oxford BioMedica will receive royalties on product sales by Wyeth. Wyeth's
exercising of the option, announced today, triggers a payment and sets a
timeline for completion of key preclinical analyses.
Wyeth has rights to develop the Oxford BioMedica antibody as a 'naked' antibody
- using the antibody alone - and/or as an antibody-drug conjugate, i.e.
chemically coupled to the cytotoxic molecule, calicheamicin. Wyeth has expertise
and proprietary technology in the conjugation of calicheamicin to monoclonal
antibodies. Calicheamicin is the active component of Mylotarg(R), an antibody
conjugate for the treatment of Acute Myeloid Leukaemia that was launched in 2000
by Wyeth in the United States.
Oxford BioMedica's antibody is directed against a novel proprietary
tumour-associated antigen that is expressed on a wide range of solid tumours.
Products developed under this agreement are therefore expected to be broadly
applicable in the treatment of many kinds of cancer.
Commenting on the announcement, Professor Alan Kingsman, Chief Executive of
Oxford BioMedica, said:
' We are pleased to take this next step along the path towards a very exciting
product. There is no better partner than Wyeth for this type of therapy.'
-Ends-
For further information, please contact:
Oxford BioMedica plc
Professor Alan Kingsman, Chief Executive Tel: +44 (0)1865 783 000
City/Financial Enquiries:
Mike Wort, James Chandler: Beattie Financial Tel: +44 (0)20 7398 3300
Scientific/Trade Press Enquiries:
Sue Charles, Katja Stout: Northbank Communications Tel: +44 (0)20 7321 3870
Notes to Editors
Oxford BioMedica
Established in 1995 as a spin out from Oxford University, Oxford BioMedica plc
specialises in the development of novel gene-based therapeutics for the
treatment of cancer, neuro-degenerative disease and other disorders with major
unmet clinical needs. The development pipeline includes two novel anti-cancer
products in clinical trials and a gene therapy treatment for Parkinson's
disease, which is in late preclinical studies. This is underpinned by a broad
research pipeline and over 70 patent families, about quarter of which are
issued.
Oxford BioMedica's products use genes as the mediators of a therapeutic effect
and/or immune response. The Company's gene therapy products deliver therapeutic
molecules in vivo whilst its gene-based immunotherapy products deliver genes
that recruit the patient's immune system to mediate a therapeutic effect. The
genes are delivered by the Company's highly engineered viruses or cells.
BioMedica's lead product TroVax(R) is an anti-cancer therapeutic vaccine
expected to be useful against a broad range of tumour types. It is entering
Phase II trials in a number of indications including colorectal and renal
cancer, and is expected to be ready for Phase III trials at the end of 2003. The
Company's second cancer product, MetXia(R), is completing Phase I/II studies in
breast cancer.
Oxford BioMedica is headquartered in Oxford, UK and has a wholly-owned
subsidiary in San Diego, USA. BioMedica has corporate collaborations with Wyeth,
IDM, Intervet, Aliga Pharmaceuticals, Amersham and Arius Research.
Oxford BioMedica plc was floated on the Alternative Investment Market of the
London Stock Exchange in December 1996, and was promoted to the United Kingdom
Listing Authority Official List in April 2001 following a successful £35.5
million fund-raising.
Further information is available on the World Wide Web at http://
www.oxfordbiomedica.co.uk
Forward-looking statement
The statements in this press release that are not historical facts are
forward-looking statements that involve risks and uncertainties including,
without limitation, risks associated with the inherent uncertainty of
pharmaceutical research, product development and commercialisation, the impact
of competitive products, and patent, and other risks and uncertainties,
including those detailed in company periodic reports, including quarterly
reports on Form 10-Q and an annual report on Form 10K, filed with the Securities
and Exchange Commission. Actual results may differ from the forward-looking
statements.
World Wide Web
This release is also available on the World Wide Web at:
http://www.oxfordbiomedica.co.uk and http://www.wyeth.com
This information is provided by RNS
The company news service from the London Stock Exchange
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