Tuesday March 7 8:10am
BOSTON and STOCKHOLM, Sweden--(BUSINESS WIRE)--March 7,
2000--TECHNICLONE (NASDAQ: TCLN) and OXiGENE, Inc.
(NASDAQ: OXGN; SSE: OXGN) today announced that they have signed a
Letter of Intent to jointly develop and commercialize TECHNICLONE'S
Vascular Targeting Agent (VTA) technology. OXiGENE will make available
to the project its next generation of tubulin-binding compounds for use in
combination with the VTA technology. This contemplated joint venture will
combine two of the most promising new vascular targeting technologies for
the development of the next generation of cancer therapeutic agents. The
joint venture arrangement will include an upfront licensing fee and milestone payment to TECHNICLONE by OXiGENE as well as OXiGENE's
substantial funding of development expenses related to commercializing a
VTA product. The two companies will also share royalties and certain fees
generated by the joint venture.
TECHNICLONE'S VTA's are based on targeting molecules that bind
specifically to vascular endothelial cells in tumor blood vessels. The targeting molecule is linked to one of several different types of effector molecules, including drugs, coagulants, radioisotopes and toxins. After binding to tumor vessels, the effector molecule destroys the tumor vessels, which kills the tumor by starving it of oxygen and nutrients. TECHNICLONE has received extensive patent protection for this area in the last year and plans to continue to sublicense the technology to other companies in areas that do not conflict with the joint venture's TECHNICLONE/OXiGENE combination strategy.
Under the proposed terms, TECHNICLONE will supply its intellectual
property and the expertise of Dr. Phil Thorpe, Professor of Pharmacology at
the University of Texas Southwestern Medical Center and the inventor of
TECHNICLONE'S VTA technology, along with the most promising lead
candidates he has developed to date. Oxigene will supply funding in the form
of milestone payments and development costs along with its expertise in the
preclinical and clinical development areas as well as its next generation
tubulin-binding compounds. The joint venture will collaborate on research
and development of those compounds for use in combination with the VTA
technology.
"This partnership will enable us to develop VTA's rapidly and efficiently.
OXiGENE is committed to getting these compounds into humans as quickly
as possible. They possess the critical expertise, the track record and the
resources to accomplish this goal. I am excited about working with this joint team to develop and commercialize this area." Dr.Thorpe stated.
OXiGENE's anti-tumor vascular targeting agent, Combretastatin A4
Prodrug, (CA4P), recently licensed to Bristol Myers Squibb, is one of a new
class of anti-cancer therapies that act by directly reducing a tumor's blood
supply through a tubulin-binding mechanism. CA4P is different from
angiogenic inhibitors now in clinical development in that it attacks pre-existing tumor vasculature, unlike anti-angiogenic agents that inhibit the formation of new tumor vasculature.
"We are very pleased to be able to work with TECHNICLONE to develop
the next generation of VTA's for treating cancer. We believe many of
tomorrow's new drugs will emanate from today's antibody technology.
OXiGENE is leading the way in the vascular targeting area with its
combretastatin technology that specifically targets blood vessels in tumors.
By partnering with TECHNICLONE'S VTA technology, we believe we will
be able to target tumor blood vessels more specifically by using antibodies
and other targeting agents, thus increasing the therapeutic potential for these compounds as well as for others." said Bjorn Nordenvall, Ph.D., M.D.,
President and CEO of OXiGENE. "Success in this area would not only give
us the opportunity of developing new VTA compounds but may also open
some new business areas for us in the future," he further stated.
"We believe this joint venture will form the premier vascular targeting entity in the world. The joint venture will have the combined resources to develop and rapidly advance these technologies to commercialization. Techniclone and the joint venture will continue to sublicense specific uses of the VTA technology to selected companies that are conducting research in areas that are not the focus of the joint venture. Together we will strive to maximize the full potential of our platform technology. This partnership has many potential product opportunities to explore," said John Bonfiglio, Ph.D., Interim President of Techniclone Corporation.
The letter of intent provides for an exclusive period for completion of a
definitive agreement. The transaction is subject to further medical, technical, business, financial and legal due diligence and will be subject to customary closing conditions. There can be no assurance that a definitive agreement will be reached.
OXiGENE is an international biopharmaceutical company and a world leader
in vascular targeting, developing a diverse portfolio of innovative products to combat cancer and other major diseases. The Company's mission is to
develop new therapeutics that will enhance the effectiveness of traditional
cancer treatments and to introduce therapies that attack cancer in new ways.
OXiGENE has its international corporate headquarters in Stockholm,
Sweden, and its United States headquarters in Boston, MA. Please feel free
to visit the Company's Website at: www.oxigene.com.
TECHNICLONE Corporation is a biopharmaceutical company focused on
the development, commercialization and licensing of unique technologies for
the treatment of cancer, primarily based on its "collateral targeting
technologies." These technologies therapeutically target cell structures and
cell types, rather than surface cancer cells, as a means to attack solid tumors, without causing damage to surrounding healthy tissue. The Company has three collateral technologies: Cotara(TM), Vasopermeation Enhancement
Agents (VEA), and Vascular Targeting Agents (VTA). The Company also
has a direct tumor targeting agent called Oncolym(R) for the treatment of
advanced non-Hodgkin's B-cell Lymphoma. Oncolym(R) has been licensed
to Schering AG, Germany, which is now responsible for all existing and
future Oncolym(R) clinical trial programs as well as marketing.
Safe Harbor Statement: This release may contain certain forward-looking
statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual events or results may differ from the Company's expectations as a result of risk factors discussed in Techniclone's reports on file with the U.S. Securities and Exchange Commission, including, but not limited to, the Company's report on Form 10K for the year ended April 30, 1999 and Form 10Q for the quarter ended October 31, 1999.
Aktuell steht Techniclon bei ca 14,50 Euro. Mal schaun, was aus der Firma noch so wird.
Garion |
Thread abonnieren
Garion
: Und hier noch gleich eine schöne Meldung von heute, die bisher +20% brachte:
checkit
: ich habe mir heute kleine Bestand zugelegt, danach Abstuurz wg. Konsolidierung.
