BioWa Receives Milestone Payment From Medarex

BioWa Inc. today announced that it has received an undisclosed milestone payment from its partner, Medarex Inc., under the license agreement for BioWa's Potelligent(TM) Technology for the enhancement of Fc receptor mediated antibody activity, a critical mechanism in tumor lysation and anti-cancer therapy. BioWa may receive future milestone payments and royalties in the event that products advance to clinical stage development.

"Medarex is a leader in the discovery and development of fully human antibody-based therapeutics and a key strategic partner to BioWa in developing Potelligent enhanced antibodies. This milestone achievement reinforces BioWa's mission to create the ultimate therapeutic antibodies available to treat life-threatening diseases, such as cancer, as quickly as possible. We are very pleased of this expansion of our relationship and Medarex's achievements," said Dr. Nobuo Hanai, president and CEO of BioWa.

About BioWa Inc.

BioWa is a wholly owned subsidiary of Kyowa Hakko Kogyo Co., Ltd, Japan's leading pharmaceutical and largest biotech company. BioWa is the exclusive worldwide licensor of Potelligent Technology. Potelligent Technology creates high antibody-dependent cellular cytotoxicity (ADCC) monoclonal antibodies. ADCC is a critical function of the immune system that enhances the ability of antibodies to kill tumor cells. The enhancement of ADCC is seen up to 100-fold in vitro. Both BioWa and Kyowa Hakko are currently developing ADCC enhanced monoclonal antibody-based therapeutics to fight cancer and other life-threatening and debilitating diseases in various clinical stages. BioWa creates and develops enhanced ADCC antibodies for itself and others, offering a full range of antibody discovery and development capabilities. More information about BioWa may be found at its website at www.biowa.com.

Potelligent(TM) is the registered trademark of Kyowa Hakko Kogyo Co., Ltd. All rights are reserved.

     
   President & CEO
   BioWa, Inc.
   Princeton,    NJ,    08540
   USA
   6099191100 (phone)
   6099191111 (fax)
   nhanai@biowa.com
   www.biowa.com
  

     
   Senior Director Business Development
   BioWa, Inc.
   Princeton,    NJ,    08540
   USA
   609 580 7506 (phone)
   609 919 1114 (fax)
   molsbergen@biowa.com
   biowa.com