| Seattle and Paris, Jan. 15, 2002 — Corixa Corporation (Nasdaq: CRXA), a developer of immunotherapeutics, and Beaufour Ipsen Group a European based global pharmaceutical company , today announced a license, development and commercialization agreement for Corixa’s AnergiX.MGTM technology for the treatment of myasthenia gravis, a chronic autoimmune neuromuscular disease that causes varying degrees of weakness of the skeletal muscles of the body. |    |
Under the terms of the agreement, Corixa will provide Beaufour Ipsen with exclusive worldwide rights to develop and market its AnergiX.MG technology for the treatment of myasthenia gravis. Beaufour Ipsen will manage product development, including clinical trials and regulatory submissions. Beaufour Ipsen will pay Corixa an up-front license fee, guaranteed research support, success-based milestone payments and royalties in the event of Beaufour Ipsen product sales. The collaboration will be overseen by a joint steering committee made up of representatives from both companies. Further details of the agreement were not disclosed by either party.
"Our agreement with Beaufour Ipsen demonstrates the continued value of the AnergiX technology originally obtained in the Anergen acquisition and further extends the therapy potential of Corixa technology," stated Steven Gillis, Ph.D., chairman and chief executive officer of Corixa. "We hope that our collaboration with Beaufour Ipsen will provide a much needed treatment for those suffering from this debilitating neuromuscular disorder."
"We are excited to be working with Corixa to develop the AnergiX.MG technology, which will further expand our dedication to the treatment of neuromuscular diseases" said Jacques-Pierre Moreau, Beaufour Ipsen group Vice President Research & Development. "We share in Corixa’s commitment to discovering and developing innovative technologies and look forward to the possibility of developing a novel treatment for myasthenia gravis patients."
About Myasthenia Gravis
Myasthenia gravis is a chronic autoimmune neuromuscular disease characterized by varying degrees of weakness of the skeletal (voluntary) muscles of the body. Myasthenia gravis is caused by a defect in the transmission of nerve impulses to muscles. It occurs when normal communication between the nerve and muscle is interrupted at the neuromuscular junction — the place where nerve cells connect with the muscles they control. Normally when impulses travel down the nerve, the nerve endings release a neurotransmitter substance called acetylcholine. Acetylcholine travels through the neuromuscular junction and binds to acetylcholine receptors that are activated and generate a muscle contraction. In myasthenia gravis, antibodies block, alter, or destroy the receptors for acetylcholine at the neuromuscular junction that prevents the muscle contraction from occurring.
About Corixa
Corixa is a developer of immunotherapeutics with a commitment to treating and preventing autoimmune diseases, cancer and infectious diseases by understanding and directing the immune system. Corixa is focused on immunotherapeutic products and has a broad technology platform enabling both fully integrated vaccine design and the use of its separate, proprietary product components on a stand-alone basis. Corixa currently has 16 programs in clinical development and 22 programs in preclinical development, including its most advanced product candidate, Bexxar®, a monoclonal antibody conjugated to a radioisotope.
The company partners with numerous developers and marketers of pharmaceuticals, targeting products that are Powered by CorixaTM technology with the goal of making its potential products available to patients around the world. Corixa was founded in 1994 and is headquartered in Seattle, Washington, with additional operations in Hamilton, Montana and South San Francisco, California. For more information, please visit Corixa's Website at www.corixa.com or call the company's investor relations information line at 1.877.4CORIXA or 877/426-7492.
About Beaufour Ipsen
Beaufour Ipsen is an independent European ethical pharmaceutical company which, aside from a traditional line of natural products (Gingko Biloba extracts & clays), has successfully developed and commercialized a range of specialist and biotech derived pharmaceuticals. Beaufour Ipsen is a leader in the development and production of controlled release formulation for therapeutic peptides used in the treatment of hormone responsive illnesses. Beaufour Ipsen market Dysport a brand of Botulinum toxin prescribed for the treatment of motor disorders & muscle spasticity. The company has sales in 80 countries.
Forward Looking Statements
Except for the historical information presented, certain matters discussed in this press release relating to the development of our products and the results of our collaboration with Beaufour Ipsen are forward-looking statements. Forward-looking statements are based on the opinions and estimates of management at the time the statements are made. They are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Factors that could affect Corixa's actual results include, but are not limited to the failure of the AnergiX.MG program to result in a safe or efficacious product for treating myasthenia gravis, the failure of Beaufour Ipsen to devote sufficient resources to the development and commercialization of AnegiX.MG and the other "Factors Affecting Our Operating Results, Our Business and Our Stock Price," described in Corixa’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2001, copies of which are available from Corixa’s investor relations department. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release.
Source: Ipsen
