Kyowa Hakko Co-Development

RNS Number:0184T
Arana Therapeutics Limited
24 April 2008



For Immediate Release                                             24 April 2008


                           Arana Therapeutics Limited


              ARANA and KYOWA HAKKO TO Co-DEVELOP ANTI-CANCER DRUG


Arana Therapeutics Limited, and Kyowa Hakko Kogyo Co., Ltd. (Kyowa Hakko), a
major Japanese biotechnology company, today announced they have entered into an
agreement to co-develop a new anti-cancer drug for colorectal cancer (ART104).

Terms of the co-development agreement include:


-          Arana will receive an upfront US$4 million payment and additional
milestones of up to US$4 million.

-          ART104 will be enhanced using Kyowa Hakko's proprietary POTELLIGENT
(R) and COMPLEGENT(TM) Technologies.

-          Arana and Kyowa Hakko will have equal ownership of the product and
will equally share development costs.

-          Kyowa Hakko has an option to develop and commercialise the product in
some Asian markets such as Japan, South Korea, Taiwan and China. Arana will
receive royalties on these sales.


Dr. John Chiplin, CEO of Arana said "We are delighted to be working with Kyowa
Hakko and their exciting technologies. This agreement will enhance the
likelihood of successful development of an effective anti-cancer drug. The
transaction enables Arana to retain 50% ownership of the product while reducing
the risk and cost of development."


"Kyowa Hakko's POTELLIGENT(R) and COMPLEGENT(TM) Technology are major
breakthroughs in antibody development and the application of them is a logical
next step in the development of ART104. We are looking forward to working with
Kyowa Hakko to bring this product to the clinic to help treat cancer," Dr.
Chiplin added.


Dr. Nobuo Hanai, Managing Officer of Kyowa Hakko, Division Head, Pharmaceutical
Research & Development Division, Pharmaceuticals Business Unit, said,


"We are very excited about this collaboration. Arana is well known for its
expertise in antibody-based drug development and this collaboration complements
Kyowa Hakko's mission to bring about the benefit of POTELLIGENT(R) and
COMPLEGENT(TM) Technology to cancer patients as quickly as possible."



About Arana Therapeutics

Arana Therapeutics Limited (ASX: AAH; AIM: AAHx) is an international
biopharmaceutical company formed through the merger of Peptech and EvoGenix in
August 2007. The company uses superior technology to develop next generation
drugs that will improve the lives of patients with inflammatory diseases and
cancer.


Arana Therapeutics' innovative engineering technologies provide the basis for
clinical development in the antibody space, a market which draws on high demand.
Arana Therapeutics has the financial stability and management expertise to
accelerate its clinical programs, and is on track to have at least 3 clinical
stage assets within three years.


Arana is listed on the Australian Securities Exchange (ASX) and the London Stock
Exchange (AIM). The pipeline consists of four lead drug programs: ART621 to
treat severe rheumatoid arthritis, psoriasis and other inflammatory diseases;
ART010 to treat osteoporosis and bone cancer; ART104 to treat solid tumours such
as colorectal cancer; and ART150 for lung cancer and melanoma. Additionally, the
company has earlier stage products in development for the treatment of a range
of conditions including age related macular degeneration, psoriasis, colorectal
cancer, and leukemia. Arana has recurring revenues from commercial and
development partnerships with six international companies including GSK, CSL,
Centocor (J&J) and Abbott Laboratories.


For further information: www.arana.com


About Kyowa Hakko

Kyowa Hakko(TSE:4151) is a biotechnology-based company focused on two
businesses: pharmaceutical operations engaged in the research and development,
manufacturing, and marketing of prescription drugs; and bio-chemical operations
that handle a variety of products such as amino acids, nucleic acids, and
nutritional supplements/healthcare products. Its pharmaceutical business places
emphasis on research and development in the fields of oncology, allergy, and the
central nervous system. In Japan, Kyowa Hakko is marketing medications for a
wide range of diseases, including allergy, hypertension, angina pectoris, and
cancer. With the aim of penetrating the global market, Kyowa Hakko has overseas
development bases in the U.S. (Kyowa Pharmaceutical, Inc. and BioWa, Inc.) and
in the U.K. (Kyowa Hakko U.K. Ltd.). In the U.S., the U.K., and China, they are
pushing ahead with the clinical development of new drug candidates as well as
the therapeutic antibody business based on Kyowa Hakko's proprietary technology
(POTELLIGENT(R) and COMPLEGENT(TM)) that enhances the activity of antibodies.


On 22 October 2007, Kyowa Hakko announced that the Kyowa Hakko group and the
Kirin group entered into an agreement to merge. Through this merger, the two
groups will endeavor to build a global leader in the research and
development-driven life sciences business based in Japan, which is centered on
pharmaceutical operations with strengths in biotechnology. The new company
"Kyowa Hakko Kirin Co., Ltd." will start operating on Oct. 1, 2008.


For more information on Kyowa Hakko, visit http://www.kyowa.co.jp/eng/index.htm


About POTELLIGENT(R) Technology

ADCC activity is an important immune mechanism that permits immune cells to kill
targets, e.g. cancer cells. Enhancement of this activity is one promising
approach in the next generation of antibody technologies.


The POTELLIGENT(R) technology involves the reduction of the amount of fucose in
the carbohydrate structure of an antibody. Research shows that POTELLIGENT(R)
technology significantly enhances the ADCC activity of antibodies in vitro,
thereby increasing the potential for improved activity in vivo.



About ADCC activity

ADCC activity is the one of the functions of human immune system which enables
leukocytes such as natural killer and monocytes to kill the target cell such as
cancer cells in the presence of antibody.


About COMPLEGENT(TM) Technology

Complement-Dependent Cytotoxicity (CDC) is one of the major pharmacological
effects of therapeutic antibodies as well as Antibody-Dependent Cellular
Cytotoxicity (ADCC). Immunoglobulin G molecule has several isotypes which differ
in biological effects. We have successfully created an antibody molecule with
enhanced CDC by incorporating a part of the amino acid sequence of IgG3 into the
sequence of IgG1, standard isotype for therapeutic antibody, in the way the
advantages of each isotype are combined together (Isotype Chimerism).


The antibody that is produced by using COMPLEGENT(TM) Technology has CDC activity
superior to both isotypes of natural IgG1 and IgG3. In addition, the antibody
with enhanced ADCC and CDC can be produced using both COMPLEGENT(TM) and
POTELLIGENT(R) Technology.


About CDC activity and Complement

CDC activity is one of the functions of human immune system where activated
complement kills the target cell.


Complement is a mechanism acquired by multi-cellular organism to defend
themselves against foreign organisms. Complement, activated by binding to
antigen-antibody complex or pathological microorganisms, supports the functions
of antibody, such as phagocytosis or lysis of foreign organisms.


Contact information: Arana Therapeutics

Company:                                  Investor & Media Relations
                                          (Australia)
Dr John Chiplin
                                          Buchan Consulting
Chief Executive Officer
                                          Paul Dekkers
Arana Therapeutics
                                          T: + 61 2 9237 2800
T: + 61 2 8061 9900
                                          Mobile: 0418 218 722
E: jchiplin@arana.com
                                          E: pdekkers@bcg.com.au

Investor & Media Relations
(United Kingdom)
Buchanan Communication

Lisa Baderoon/Rebecca Skye Dietrich                 +44 (0)20 7466 5000

Nomura Code Securities

Charles Walker                                      +44 (0)20 7776 1206


Contact information: Kyowa Hakko:
Company:

TETSURO KUGA, Public Relations

Kyowa Hakko Kogyo Co., Ltd.

1-6-1, Ohtemachi, Chiyoda-ku, Tokyo,
Japan 100-8185

Tel: +81-3-3282-1903

Fax: +81-3-3282-0990

e-Mail: info@kyowa.co.jp





                      This information is provided by RNS
            The company news service from the London Stock Exchange

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