Abgenix and Genentech Extend Technology Licensing Agreement

Abgenix announced that Genentech has exercised its option to extend its technology licensing agreement with Abgenix for an additional three years. Under the extended agreement, Genentech will have access to Abgenix's proprietary antibody generation technology. As a condition of exercising the option, Genentech has purchased Abgenix common stock representing less than 1 percent of Abgenix's outstanding common stock through a private placement subject to future registration.

BioSpace (http://www.biospace.com/news_story.cfm?StoryID=19366120&full=1)