Angiogenesis is the biological process by which new blood vessels are formed.
The Company's primary efforts are focused on developing antiangiogenic drugs designed to inhibit the abnormal new blood vessel growth associated with a broad range of diseases, such as cancer, certain types of blindness and atherosclerosis. The Company's current portfolio of antiangiogenic products includes Endostatin, Angiostatin and 2ME2. In the case of cancer, the Company believes that its antiangiogenic drugs may have significant advantages over traditional cancer therapies, including a reduced likelihood of resistance, fewer side effects and the ability to be administered in conjunction with other therapies. Revenues reflect the absence of collaborative research and license fees from Bristol-Myers Squibb. Higher loss also reflects higher manufacturing efforts in Endostatin, Angiostatin and Panzem.