NEW YORK, June 28, 2006 (PRIMEZONE) -- Crystal Research Associates, LLC announced today that it has issued an Executive Informational Overview(r) (EIO(r) on Berkeley, CA-based XOMA Ltd. (Nasdaq:XOMA). The full 72-page report can be found at www.crystalra.com and www.xoma.com.
XOMA Ltd. ("the Company") is a biopharmaceutical company in the field of therapeutic antibody discovery and development. The Company discovers, develops, and manufactures antibodies and other recombinant protein biologics for commercialization in several therapeutic areas, including immunological and inflammatory disorders and cancer. Along with developing proprietary products, XOMA enters into collaborative programs with other companies, leveraging its infrastructure to broaden its product pipeline, diversify development risk, and share the financial burden of drug development. XOMA has a royalty interest in an approved drug, RAPTIVA(r), a humanized therapeutic monoclonal antibody (MAb) developed to treat immune system disorders. RAPTIVA(r) is the first U.S. Food and Drug Administration (FDA)-approved biologic therapy designed to provide long-term control of chronic moderate-to-severe plaque psoriasis. Genentech, Inc. (NYSE:DNA) markets RAPTIVA(r) in the U.S. and Serono S.A. (NYSE:SRA), Genentech's international marketing partner for RAPTIVA(r), promotes the drug outside the U.S. (except Japan).
XOMA also has a pipeline of products in almost all stages of evaluation. In oncology, Chiron Corporation (now Novartis AG, (NYSE:NVS) and XOMA have advanced CHIR-12.12 (to be re-named HCD 122), an anti-CD40 MAb intended to treat B-cell malignancies, into Phase I for two indications. XOMA is collaborating with Lexicon Genetics, Inc. (Nasdaq:LEXG) to develop a metabolic MAb to treat Type II diabetes and obesity, and has launched a wide-ranging collaboration with Schering-Plough Corporation (NYSE:SGP) for therapeutic MAb discovery and development. XOMA's independent product development programs include XOMA 052, a proprietary high affinity antibody under development for inflammatory disorders, which is expected to be in clinical trials in 2007. NEUPREX(r), another XOMA-proprietary product under development, is an injectable formulation of rBPI21, (a modified recombinant fragment of human bactericidal/permeability-increasing protein (BPI) in or soon to be in investigator-sponsored studies for pediatric open-heart surgery (POHS), burns, bone marrow/stem cell transplant, and potentially other applications. XOMA's antibody technology platform includes proprietary bacterial cell expression (BCE) technology, Human Engineering(tm) Technology for creating human-like antibodies, and through BCE cross-licenses, access to seven leading phage display antibody discovery libraries. Two antibody development and manufacturing contracts also earn revenues.
About Crystal Research Associates, LLC
Crystal Research Associates, LLC is an independent research firm that provides institutional-quality fee-based research to small and mid-cap companies. The Company's unique and novel product, the Executive Informational Overview(r) (EIO)(r), is free of investment ratings, target prices, and forward-looking financial models. The EIO(r) presents a crystal-clear, detailed report on a company (whether public or private) in a manner that is easily understood by the Wall Street financial community. The EIO(r) details a company's product/technology/service offerings, market size(s), key intellectual property (IP), leadership, growth strategy, competition, risks, audited financial statements, key events and other such fundamental information. Crystal Research Associates has offices in New York City, Delray Beach, Montreal, and Toronto. Crystal Research Associates has been compensated by XOMA Ltd. in cash of $35,000. Principals in Crystal Research Associates own shares of XOMA common stock, which were purchased in the open market. Please see back of report for complete Company disclosures.
Forward-Looking Safe Harbor Statement
Statements in this news release regarding future financial and operating results, future growth in research and development programs, potential applications of the Company's technology, opportunities for the Company and any other statements about the future expectations, beliefs, goals, plans, or prospects expressed constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words "will," "believes," "plans," "anticipates," "expects," "estimates," and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: need for future capital, risks inherent in the development and commercialization of potential products, protection of the Company's intellectual property, and economic conditions generally. Additional information on potential factors that could affect results and other risks and uncertainties are detailed from time to time in the Company's periodic reports, including the report on Forms 10-K, 10-Q, 8-K, and other forms filed with the Securities and Exchange Commission ("SEC") from time to time.
These statements, and other forward-looking statements, are not guarantees of future performance and involve risks and uncertainties. Crystal Research Associates, LLC assumes no obligation to update any of the forward looking statements in this release.