TSX Venture Exchange: ARI
TORONTO, March 22 /CNW/ - ARIUS Research Inc. (TSX-VE: ARI) today
announced that it has licensed to Genentech, Inc. (NYSE: DNA) rights to one of
ARIUS' novel anti-cancer antibodies and others in the same family for
development in human disease.
Under the terms of the agreement, ARIUS will receive an upfront licensing
fee and may receive milestone payments based on progress through clinical
development as well as royalties on net sales of any products resulting from
the collaboration. Genentech will assume the responsibility and costs of
development and commercialization. Financial terms were not disclosed.
"Out-licensing one of our lead programs to Genentech achieves a number of
key objectives for the company and represents a significant milestone under
the ARIUS business model," said Dr. David Young, President of ARIUS Research
Inc. "Genentech has demonstrated extensive scientific and commercialization
expertise with antibodies for cancer and ARIUS is optimistic that, down the
road, patients will have more and better treatment options arising from this
collaboration."
The agreement represents the first anti-cancer antibody developed from
ARIUS' FunctionFIRST(TM) platform to be out-licensed. Antibodies discovered
through ARIUS' proprietary technology have demonstrated anti-tumor activity in
animal models of a number of human cancers and have been shown to recognize
important cancer targets.
Cancer affects approximately 1.55 million new patients each year in North
America (sources: American Cancer Society, Canadian Cancer Society). ARIUS is
researching treatments for the most common cancers and those with significant
unmet medical need. There are eight antibodies currently available for
treating cancer with a worldwide market value close of US$6.3 billion in 2005.
About ARIUS Research
ARIUS Research Inc. is a biotechnology company dedicated to personalizing
cancer therapy through the discovery and development of novel anticancer
monoclonal antibodies (MAbs). Established in 1999, ARIUS has built a
proprietary technology platform, FunctionFIRST(TM), that rapidly identifies
powerful MAbs targeting a variety of cancer indications. This antibody
generation engine has enabled ARIUS to assemble a growing pipeline, which is
used for commercial collaborations and in-house development. ARIUS has ongoing
partnerships with key biotechnology and drug development companies. The
company is listed on the TSX Venture Exchange under the symbol "ARI".
Forward-Looking Statement
Certain statements in this news release constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995, which involve known and unknown risks, uncertainties and other
factors that may cause our actual results to be materially different from any
future results, performance or achievements expressed or implied by such
statements. Forward-looking statements in this release include, but are not
limited to, ARIUS successfully advancing its new product programs as well as
licensing opportunities. These statements are only predictions and actual
events or results may differ materially. Factors that could cause such actual
events or results expressed or implied by such forward-looking statements to
differ materially from any future results expressed or implied by such
statements include, but are not limited to: early stage of development;
technology and product development; dependence on and management of current
and future corporate collaborations; future capital needs; uncertainty of
additional funding; no assurance of market acceptance; dependence on
proprietary technology and uncertainty of patent protection; intense
competition; manufacturing and market uncertainties; and government
regulation. These and other factors are described in detail in the company's
Annual Report, forthcoming news releases and other filings with Canadian
securities regulatory authorities available at www.sedar.com. Forward-looking
statements are based on our current expectations and ARIUS is not obligated to
update such information to reflect later events or developments.
Website: www.ariusresearch.com
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this statement.
