Favrille Acquires Anti-CD20 Monoclonal Antibodies from Diversa
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 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, is an active immunotherapy being developed as a complement to the anti-CD20 passive immunotherapy Rituxan. 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.
About FavId
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.