Essay about Abgenix Case Analysis

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t@s$@ Harvard Business School 9-501-061 January 9,2001 Abgenix and the XenoMouse Meet XenoMouse "Meet XenoMoussrl\4/'headlined the piece frorn the Abgenix information kit. (See Exhibit 1.) wortl-r meeting, XenoMouse was probably it. While Lee Majors played bionic rnan, Steven Austin, in the popular Six Milliott Dollar Man television series in the 1970s, XenoMouse could well be termed the "Three Billion Dollar Mouse." XenoMouse lived at Abgenix in Frernont, California, just across the Dunbarton Bridge frorn Silicon Valley's farned Highway 101. While no product based on the genetically engineered XenoMouse had yet reached the market, he was the source of the company's near $3 billion rnarket capitalization of March 3L, 2000. If…show more content…
Drug developrnent was a risky business. The vast majority of drugs initially tested fail to gain FDA approval. development process. Before testing The second way Abgenix hoped to generate revenues was by pursuing the early stages of XenoMouse-based drug developmenf meeting with some success, and then selling off the rights to develop and market the drug. As shown in Figure A, Abgenix had four XenoMouse-generated drugs in various stages of the FDA process on March 3'1,2000. Figure A Development Programs (source: Company Records) Preclinical Phase I Phase l/ll Phase ll Phase lll ABX.CBL Graft Versus Host Disease ABX-IL8 Psoriasis Rheumatoid Arthritis Worldwide Rights Available Worldwide Rights Available ABX.EGF EGFr-Dependent Cancers ABX.R82 Organ Transplant Rejection WortdwideRightsAvaitable I - Worldwide Rights Available Status at 3/31/00 I - ABX-CBL was in Phase III clinicals and ABX-IL& targeted at inflammatory disorders such as psoriasis and arthritis, was in initial human effectiveness sfudies. ABX-EGF, targeted at various cancers, had shown outstanding effectiveness in preclinical studies on mice and was in initial smallscale safety testing with humans. ABX-RB2, for organ transplant rejectiory was not yet tested with humans. In each case, as the figure from an investor presentation shows, Abgenix described the program as "Worldwide Rights

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