News

Corixa Corp. continues Ribi’s legacy

A Bitterroot Valley research and manufacturing facility is in the middle of a drug
research and development program targeting a litany of diseases, including a
possible cure for cancer.

By JENNY JOHNSON Staff Reporter Ravalli Republic

Corixa Corp., the Seattle-based biotechnology firm with a 100-employee
research- and drug-making lab in Hamilton, plans to double its Bitterroot facility
to increase its ability to research and manufacture treatments in the fields of
autoimmune diseases, cancer and infectious diseases.

Named after a freshwater insect, Corixa moved into Hamilton in 1999 after it
bought Ribi Immunochem Inc., a biotechnology company founded by scientist
Edgar Ribi. The buyout of Ribi merged the cancer-fighting research of both
companies, which has continued to grow under the Corixa banner.

According to Corixa’s annual report, the company is poised to discover and
develop a broad spectrum of medical treatment products with market potential.
Corixa officials say products can be brought to the market sooner by partnering
with other research, manufacturing and commercial companies. It currently has
such partnerships with 16 different companies, including Schering-Plough, which
partnered with Corixa in the development of Melacine, a vaccine used to prolong
the lives of terminally ill melanoma patients.

A partnership with Incyte Pharmaceuticals Inc., sent Corixa stock soaring in
Feb. 2000. It traded for as high as $66.63 when the announcement of the
partnership hit the New York Stock Exchange. Corixa stock sold for $6.21 at the
close of trading on Monday.

While Corixa has experienced "significant operating losses in each year" since
its inception in 1984, the company depends largely on the prospect of its drugs
making it to market. If that happens the company stands to profit.

The company’s shares increased in value with the market approval of Melacine,
which was originally developed by Ribi. Melacine is under review by the U.S.
Food and Drug Administration for use by Americans, according to Corixa’s
annual report.

Corixa has 18 products in clinical trials and an additional 22 products in
preclinical programs. The Hamilton facilities could be developed to manufacture
some of Corixa’s newly accepted treatments, said Chuck Richardson, Corixa
vice president and manager of the Montana facility.

While the Hamilton facility could be used to manufacture products used in the
clinical trial period of testing, Corixa intends to contract manufacturers for its
commercial products, according to its annual report.

Among the diseases Corixa is developing treatments for are leukemia,
lymphoma, lung, breast, colon and ovarian cancer, infectious diseases,
autoimmune diseases, multiple sclerosis, psoriasis, rheumatoid arthritis and
certain allergies.

Besides Hamilton, Corixa has offices in San Francisco and Seattle.

http://www.ravallinews.com/display/inn_news/news2.txt

Posted in:

Sorry, we couldn't find any posts. Please try a different search.

Leave a Comment

You must be logged in to post a comment.