ImmunGene Announces Multi-Target R&D Collaboration With Cephalon Australia for Interferon Payload Technology

Collaboration Provides ImmunGene Opportunity to Receive Significant Payments for Research and Clinical Milestones

THOUSAND OAKS, Calif., Jan. 5, 2011 /PRNewswire/ -- ImmunGene, Inc., a privately held drug development company focused on targeted antibody therapeutics, announced today it has entered into a collaboration in which Cephalon Australia (a wholly owned subsidiary of Cephalon, Inc.) will apply ImmunGene's interferon payload technology to up to six of its new drug targets for cancers.

Under terms of the collaboration, Cephalon Australia will pay undisclosed fees including an up-front payment to ImmunGene for a four-year option to leverage ImmunGene's novel drug development technology in preclinical research on up to six of Cephalon Australia's drug candidates. Cephalon has the option to pay ImmunGene license fees for exclusivity on each of these candidates that it decides to move into clinical trials.

Cephalon Australia is responsible for research, clinical development, manufacturing and commercialization of products that result from the ImmunGene collaboration.  ImmunGene is eligible to receive considerable payments for research, clinical and regulatory milestones for each drug candidate in the collaboration that is commercialized, in addition to royalties on worldwide net sales of any resulting products.

Dr. Sanjay Khare, CEO of ImmunGene, said, "This collaboration is a validation of ImmunGene's novel antibody function enhancement technology that adds the power of cytokines to antibodies while reducing the systemic toxicity of the cytokines."  Dr. Raj Sachdev, ImmunGene's Chief Operating Officer, added, "We are pleased to have Cephalon Australia as a partner with its strong commitment to advancing this new class of protein therapeutics."

ImmunGene is leveraging promising science to tap the power of the immune system to develop therapeutic antibodies with increased efficacy and superior safety compared to existing therapies.

ImmunGene's breakthrough technology platform, available for non-exclusive licensing, offers pharma and biotech companies the possibility of utilizing its technology platform to fuse cytokines to antibodies that selectively target diseased cells and tissues while reducing the systemic toxicity of the cytokines. Using as little as 1/100 of the usual cancer therapeutic dose, products employing ImmunGene's technology promise safety with the power to kill tumor cells, limit blood supply and turn off genes that support tumor growth. Thus, ImmunGene offers the possibility of utilizing lower doses of their drug candidates for clinical efficacy, simplifying the manufacturing process, and lowering cost of goods.

About ImmunGene, Inc.

ImmunGene is a privately-held, drug discovery and development company, tapping the power of the immune system to develop the next generation of antibody-based therapeutics to treat cancer, autoimmune and infectious diseases. Our technology platform, available for non-exclusive licensing, offers pharma and biotech companies the possibility of utilizing lower doses of their drug candidates for enhanced clinical efficacy, simplifying the manufacturing process, and lowering cost of goods. Our three novel pipeline candidates are antibody-cytokine fusions that have demonstrated targeted efficacy superior to existing therapies in vitro and in vivo testing. For more information please visit www.immungene.com.

About Cephalon, Inc.

Cephalon is a global pharmaceutical company dedicated to discovering, developing and bringing to market medications to improve the quality of life of individuals around the world. Since its inception in 1987, Cephalon has brought first-in-class and best-in-class medicines to patients in several therapeutic areas. Cephalon has the distinction of being one of the world's fastest-growing biopharmaceutical companies, now among the Fortune 1,000 and a member of the S&P 500 index, employing approximately 4,000 people worldwide. The company sells numerous branded and generic products around the world. In total, Cephalon sells more than 150 products in nearly 100 countries.  More information on Cephalon and its products are available at http://www.cephalon.com.

Cephalon Australia is a wholly owned subsidiary of Cephalon, Inc.

This press release contains certain forward-looking statements relating to our business. Actual events or results may differ from the expectations set forth herein as a result of a number of factors, including uncertainties inherent in pre-clinical studies, clinical trials and product development programs. There can be no assurance that any product in ImmunGene's pipeline or technology platform will be successfully developed or manufactured, that final results of clinical studies will be supportive of regulatory approvals required to market licensed products, or that any of the forward-looking information provided herein will be proven accurate.

SOURCE ImmunGene, Inc.

CONTACT: Investors, Dr. Sanjay Khare of ImmunGene, Inc., +1-805-496-6700, skhare@immungene.com, or Media, Jeff Richardson, +1-805-491-8313, jeff@richardsonglobalpr.com, for ImmunGene, Inc.
 

Web Site: http://www.cephalon.com
 

Posted: January 2011

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