Millennium Pharmaceuticals, Inc. has signed an agreement for an expanded relationship with Abgenix, Inc. through which it will gain extensive access to Abgenix's XenoMouse technology for the creation of fully human antibodies. Under this new agreement, Millennium will have broad access to Abgenix's XenoMouse technology for research purposes as well as commercial use. In exchange for this comprehensive technology access, Millennium will make an undisclosed payment to Abgenix, followed by a second payment within two years, subject to the achievement of agreed-upon milestones. The agreement can be expanded to cover additional products for further payments.
Millennium holds a very strong position in therapeutic antibody development.
We are pleased to be expanding our collaborative relationship with Millennium, a leader in the genomics field. Powerful Combination of Capabilities Millennium now has one of the most comprehensive toolkits available anywhere for generating novel antibodies, with access to a variety of innovative and advanced technologies. In addition to its new relationship with Abgenix for Xenomouse technology, Millennium has existing relationships with Medarex, also for transgenic mouse technology, and Morphosys, for phage display antibody technology. This strategic relationship with Abgenix rounds out Millennium's capabilities and reinforces our position as a key integrator in the increasingly important field of therapeutic antibody research and development,'' said Mark Levin, chief executive officer of Millennium. No part of this publication may be redistributed in any form without prior permission.