HGS and BioInvent announce collaboration

Human Genome Sciences, Inc., and BioInvent International AB have announced a collaboration meant to discover, develop and commercialize therapeutic monoclonal antibodies that have would specifically target antigens discovered by HGS.

BioInvent, under terms of the agreement, will apply its state-of-the-art antibody discovery technology in generating and developing monoclonal antibody candidates.

We continue to make excellent progress in advancing our late-stage products toward commercialization, and at the same time we remain committed to building and advancing our research pipeline to ensure sustainable growth well into the future," H. Thomas Watkins, president and chief executive officer of HGS, said. "We look forward to collaborating with BioInvent to apply their proprietary technology to the development of targeted new therapies based on HGS discoveries."

HGS completed the delivery of 20,000 doses of raxibacumab in April 2009 to the U.S. Strategic National Stockpile for use in treating inhalation anthrax. HGS secured a new purchase order in July 2009 for 45,000 doses with the first 5,600 doses delivered in November 2009.

Under the new collaboration with BioInvent, HGS and BioInvent will have the right to participate in development and global commercialization for each antibody candidate. Additionally, all research, development, manufacturing and commercialization costs as well as future revenues will be shared between the two companies.

"Access to commercially attractive targets to which we can apply our antibody discovery engine is an important part of BioInvent's strategy," Svein Mathisen, chief executive officer of BioInvent, said. "We believe this collaborative agreement is a strong and valuable way of building our pipeline of innovative drugs as BioInvent and HGS's research strengths are both complementary and synergistic. We are looking forward to working closely with HGS in what we believe will be a long-term, productive collaboration."