Monday, Feb 25, 2002
Burlingame and South San Francisco, Calif. -- February 25, 2002 --February 25, 2002 -- Accelerate Brain Cancer Cure (ABC2), a non-profit foundation created by the Dan and Steve Case families, and Genentech, Inc. (NYSE:DNA) today announced a collaboration to develop new therapies specifically designed to treat patients with brain cancer. This collaboration represents the first of a series of collaborations for ABC2 based on a new model of partnering between ABC2 and the bio-pharmaceutical industry to rapidly move new therapies into the clinic to benefit patients with this disease.
Under the collaboration, ABC2 will share development expenses with Genentech and provide access to its resources, including relationships with leading researchers and clinicians. Genentech will contribute its world-renowned experience in designing and developing pioneering therapeutics to the venture. Genentech would commercialize any resulting products and ABC2 would receive a royalty on product sales.
"Today's announcement represents a revolutionary new model for us to work with the biotechnology and pharmaceutical industries to advance the search for a cure for this devastating disease," said Steve Case, chairman of AOL/Time Warner, and chairman of ABC2. "This is just the first of a series of collaborations that ABC2 will announce which we believe will significantly improve the prospects for the treatment of brain cancer."
"Brain cancer is not only an area that represents a significant unmet medical need, but is also a disease that has personally affected Genentech," said Arthur D. Levinson, Ph.D., Genentech chairman and chief executive officer. "We are pleased to combine Genentech's leading cancer researchers with ABC2's commitment to finding new treatments for this under-researched disease."
Daniel H. Case, former chairman and chief executive officer of Hambrecht and Quist, was diagnosed with brain cancer in 2001. Other victims of this disease include Robert Swanson, co-founder and former chairman and chief executive officer of Genentech, who died in December 1999.
According to Dan Case, "Our family started Accelerate Brain Cancer Cure to help the thousands of families afflicted by this difficult disease. Our early partners and volunteers have been extraordinarily dedicated and the Genentech agreement is meaningful to us all. Through teamwork, collaboration and an entrepreneurial process, we hope to make real strides in bringing new therapies to patients of brain cancer as we work toward a cure."
About Brain Cancer
Each year more than 17,000 people in the United States find out they have a primary brain tumor of which more than half are extremely aggressive. Because brain cancer often strikes individuals at a relatively young age, brain cancer now ranks #7 for adults and #1 for children in terms of years of life lost. New and effective treatments are greatly needed as one half of the patients affected by aggressive primary tumors die within 12 months and few survive five years. Existing pharmacological treatments are largely ineffective in this disease.
ABC2 was founded in May 2001 by Dan Case, former CEO and Chairman of Hambrecht and Quist; his brother Steve Case, Chairman of AOL/Time Warner; their families; and a group of leading scientists and entrepreneurs, after Dan was diagnosed with brain cancer in 2001. ABC2's mission is to accelerate a cure for brain cancer by increasing the number of potential therapies discovered and then rapidly moving them into the clinic to help patients. In order to accelerate progress in what has been an underserved field of research, ABC2 has pioneered a series of unique systems designed to provide researchers from all backgrounds with the support they need to make critical breakthroughs in brain cancer research. ABC2 intends to call attention to brain cancer research and help mobilize research with critical scientific significance through research grants, partnerships and collaborations.
Genentech, Inc., is a leading biotechnology company that discovers, develops, manufactures and markets human pharmaceuticals for significant unmet medical needs. Fifteen of the currently approved products of biotechnology are based on or stem from Genentech science. Genentech markets ten products directly in the United States. The company has headquarters in South San Francisco, California and is traded on the New York Stock Exchange under the symbol DNA.
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