Favrille Acquires Anti-CD20 Monoclonal Antibodies from Diversa
- Category: Antibodies
- Published on Wednesday, 13 June 2007 04:00
- Hits: 1529
SAN DIEGO, CA; USA | June 12, 2007 | Favrille, Inc. (Nasdaq: FVRL), a biopharmaceutical company developing patient-specific, active immunotherapies for the treatment of cancer, announced today that it has acquired a series of optimized anti-CD20 monoclonal antibodies from Diversa Corporation (Nasdaq: DVSA). In the acquisition, Favrille has obtained a panel of anti-CD20 antibodies, which have been optimized using Diversa's proprietary Human Framework Reassembly(TM) technology, along with the corresponding patents and an exclusive, royalty-free license to selected pending patents for commercialization of the panel. Financial terms of the deal were not disclosed.
"These second generation antibodies have been shown to have biological properties equal or superior to both the parental mouse antibody as well as to Rituximab when profiled in a panel of cell-based assays," said Daniel Gold, Ph.D., Favrille's Chief Scientific Officer.
"The acquisition of these anti-CD20 antibodies is an extension of our commitment to developing next generation treatment approaches for B-cell non Hodgkin's lymphoma (NHL)," said John P. Longenecker, Ph.D., Favrille's President and Chief Executive Officer. "Our lead product, FavId(R), is an active immunotherapy being developed as a complement to the anti-CD20 passive immunotherapy Rituxan(R). We believe this combination of active and passive immunotherapies may be complementary in maintaining remissions in patients with indolent B-cell NHL. Access to this panel of optimized anti-CD20 antibodies may also allow Favrille to explore the use of these products alone or in combination in therapeutic areas outside the oncology market."
"We believe that Favrille is an ideal choice for developing these antibodies based on their extensive experience and focus on immunotherapies for the treatment of non-Hodgkin's lymphoma," said Edward T. Shonsey, Diversa's Chief Executive Officer.
FavId is a patient-specific, Id/KLH active immunotherapy for the treatment of B-cell NHL. Favrille completed enrollment in its pivotal Phase 3 clinical trial of FavId following Rituxan induction therapy in patients with follicular B-cell NHL in January 2006. The trigger for the analysis of the primary endpoint in the trial, time to tumor progression (TTP), is based on a specific number of patients reaching disease progression. This is currently projected to occur around the end of 2007. The Company has a Special Protocol Assessment from the U.S. Food and Drug Administration (FDA) for its Phase 3 trial, and has also received Fast Track designation for FavId from the FDA.
About Favrille, Inc.
Favrille, Inc. is a biopharmaceutical company focused on the development and commercialization of targeted immunotherapies for the treatment of cancer and other diseases of the immune system. The Company's lead product candidate, FavId, is based upon unique genetic information extracted from a patient's tumor. FavId is currently under investigation in a pivotal Phase 3 clinical trial for patients with follicular B-cell NHL and Phase 2 clinical trials in other B-cell NHL indications. The Company is developing additional applications based on its immunotherapy expertise and proprietary cost-effective manufacturing technology, including a second product candidate, FAV-201, for the treatment of cutaneous T-cell lymphoma.
Statements in this press release that are not strictly historical in nature constitute "forward-looking statements." Such statements include, but are not limited to, references to Favrille's product candidates, proprietary technologies and research programs. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Favrille's actual results to be materially different from historical results or from any results expressed or implied by such forward-looking statements. These factors include, but are not limited to, risks and uncertainties related to progress and timing of clinical trials for FavId, including difficulties or delays in development, testing, manufacturing and marketing FavId or Favrille's other product candidates; Favrille's ability to obtain marketing approval for FavId or Favrille's other product candidates and the timing of any such approvals; Favrille's ability to manufacture sufficient quantities of FavId for use in clinical trials and, if FavId receives marketing approval, for commercialization; risks associated with achieving projected operating metrics and financial performance or the anticipated number of patients using FavId; potential delays in patient enrollment; Favrille's ability to obtain additional financing to support its operations; and additional risks discussed in Favrille's filings with the Securities and Exchange Commission. In addition, conclusions regarding the safety and efficacy of Favrille's product candidates cannot be made until the results of future clinical trials of longer duration in more patients are known. All forward-looking statements are qualified in their entirety by this cautionary statement. Favrille is providing this information as of the date of this release and, except as required by law, does not undertake any obligation to update any forward-looking statements contained in this release as a result of new information, future events or otherwise.
SOURCE: Favrille, Inc.