Press Release
Abbott and Pierre Fabre SA Announce Collaboration to Research and Develop Novel Treatments for Cancer
- Monoclonal Antibody Adds Early-Stage Biologic to Abbott's Oncology
Pipeline
February 1, 2010
Abbott Park, Illinois (NYSE: ABT)
and Castres, France — Abbott announced today an exclusive worldwide licensing
agreement with Pierre Fabre SA to develop and commercialize h224G11, a
pre-clinical monoclonal antibody identified at the Centre d'Immunologie Pierre
Fabre (CIPF) in France and targeting the cMet receptor for the treatment of
cancer. cMet protein plays a role in the progression of a range of solid tumors
including, prostate, lung and gastric cancers and mediates resistance to
chemotherapy. As part of the agreement, the companies also intend to
collaborate on research to explore next-generation cMet antibodies.
"cMet is a compelling cancer target and the early research on this
compound looks promising," John Leonard, M.D., senior vice president,
global research and development, Abbott. "We look forward to adding to our
strong oncology pipeline, which includes exploration of multiple mechanisms to
treat cancer."
H224G11 works by specifically binding to cMet protein and interrupting the
signaling pathway, which leads to cancer cell death and the prevention of tumor
growth. The antibody also inhibits cancer cell migration and angiogenesis.
"Using the strengths of its dedicated research team in biotechnology,
Pierre Fabre SA has been able to develop potent and protein specific inhibitors
of the cMet receptor. We are delighted to partner this important asset with
Abbott scientists," declared Jean-Pierre Garnier, Chief Executive Officer
of Pierre Fabre SA.
Under the terms of the collaboration and license agreement, Abbott will lead
the development and commercialization of monoclonal antibodies targeting the
cMet receptor. Pierre Fabre SA will receive an initial $25 million upfront payment and research funding to
support further discovery efforts for two years. Additional terms of the
agreement, including milestones and royalty payments, remain confidential.
About Pierre Fabre
Pierre Fabre SA is the second largest independent French Pharmaceutical
company with a 2009 turnover of €1.8 billion. It
employs around 10,000 people, including 1,400 employees dedicated to R&D
activities. In 2009, Pierre Fabre Médicament dedicated over 30% of its annual
turnover to R&D in major therapeutic fields.
To learn more about Pierre Fabre SA, please refer to the company's Web site
at www.pierre-fabre.com.
About Abbott
Abbott is a global, broad-based health care company devoted to the
discovery, development, manufacture and marketing of pharmaceuticals and
medical products, including nutritionals, devices and diagnostics. The company
employs more than 72,000 people and markets its products in more than 130
countries.
Abbott Contacts
Media:
Raquel Powers |
847-935-6563 |
Financial:
Larry Peepo |
847-935-6722 |
Pierre Fabre SA Contacts
Media :
Caroline Perdrix |
+33 (0)1 49 10 8392 |
