Avid Bioservices Inc (CDMO)

[DewDiligence]

Heading for a patent showdown?

http://biz.yahoo.com/bw/041130/305135_1.html

>>
ImClone Systems Receives U.S. Patent Covering Therapeutic Combinations of a Vascular Endothelial Growth Factor Receptor Antibody with Radiation or Chemotherapy

NEW YORK--(BUSINESS WIRE)--Nov. 30, 2004--ImClone Systems Incorporated (NASDAQ: IMCL - News) today announced that the Company has received U.S. Patent No. 6,811,779 from the United States Patent and Trademark Office covering the therapeutic use of a vascular endothelial growth factor receptor (VEGFR) antibody and either radiation or a chemotherapeutic agent for use in the treatment of cancer. ImClone Systems is developing two investigational antibodies, IMC-18F1 and IMC-1121B, designed to target two forms of VEGFR.

IMC-1121B is a fully human monoclonal antibody that is designed to bind to the vascular endothelial growth factor receptor-2 (VEGFR-2 or KDR) found on tumor vasculature, thereby inhibiting certain ligands known as vascular endothelial growth factors from binding to and activating the receptor. This action blocks a signaling pathway key to new blood vessel formation in growing tumors. This anti-angiogenic effect has been shown to starve tumors of their nutrient supply and results in significant tumor growth inhibition in pre-clinical models. The Company has filed an Investigational New Drug Application for this compound and intends to initiate a Phase I clinical trial by yearend.

IMC-18F1 is a fully human monoclonal antibody which is designed to bind to vascular endothelial growth factor receptor-1 (VEGFR-1 or flt-1). VEGFR-1 is present in many tumor cells, including those of breast, colorectal and other types of cancers, and inhibition of the function of VEGFR-1 on these cells has led to tumor growth inhibition in pre-clinical models. VEGFR-1 is also present in tumor vasculature, and IMC-18F1 has an additional anti-angiogenic effect, thus causing an augmented anti-tumor effect.

"ImClone Systems' intellectual property estate is among the Company's most valuable assets, and this patent is a significant addition to its portfolio," stated Daniel S. Lynch, Chief Executive Officer of ImClone Systems Incorporated. "The '779 patent covers broad potential applications and is a critical component of our strategy in developing antibodies targeting this important signal pathway."
<<