ABGENIX TO RECEIVE MILESTONE PAYMENT FROM AMGEN FOR ADVANCEMENT OF PRODUCT CANDIDATE INTO CLINICAL TRIALS

Abgenix will receive a milestone payment from Amgen triggered by Amgen's advancement of an undisclosed antibody, created using Abgenix's proprietary XenoMouse technology, into clinical trials.

This is the eleventh antibody generated with Abgenix's technology to move into the clinic phase. In 1999 Abgenix entered into an agreement with Amgen granting Amgen a license to Abgenix's antibody generation technology. Amgen is responsible for product development and commercialization of any products developed through the collaboration.

Abgenix may receive milestone payments and royalties of any future product sales. Abgenix and Amgen have a separate co-development agreement for panitumumab, an EGFr inhibiting fully human monoclonal antibody that is currently in pivotal trials as a third line monotherapy for colorectal cancer.