BioWa Receives Milestone Payment from Medarex

BioWa, Inc. today announced that it has received an undisclosed milestone payment from its partner, Medarex, Inc.

Princeton, N.J (PRWEB) January 21, 2005 -- BioWa, Inc. today announced that it has received an undisclosed milestone payment from its partner, Medarex, Inc., under the license agreement for BioWas Potelligent 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 PotelligentTM 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 Medarexs 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, Japans 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. For more information about BioWa visit its web site at www.biowa.com.

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

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