Abgenix Inc will receive a milestone payment from Pfizer triggered by Pfizer's filing of an Investigational New Drug application with the FDA. The IND filing by Pfizer represents the second antibody product candidate to enter clinical studies from the companies' ongoing antibody research collaboration. Abgenix and its partners have now entered into clinical trials a total of six fully human antibodies generated by Abgenix's XenoMouse technology.

"This news signals important progress in our collaboration with Pfizer and reinforces the potential of our early technology licensing agreements," said Ray Withy, president and chief executive officer of Abgenix. "We are pleased to see that our antibody technology continues to support drug development activities by our partners."

Abgenix's antibody research alliance with Pfizer began in December 1997 to provide Pfizer a license to Abgenix's antibody generation technology. The research collaboration has since been expanded several times and now includes multiple antibody programs at Pfizer. Pfizer retains full development and commercialization rights to products resulting from the collaboration. Abgenix will receive license fees, milestone payments and royalties on potential product sales.