<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): JUNE 15, 1999
CORIXA CORPORATION
(Exact name of registrant as specified in its charter)
0-22891
(Commission File Number)
DELAWARE 91-1654387
(State or other jurisdiction of (I.R.S. Employer Identification No.)
incorporation)
1124 COLUMBIA STREET, SUITE 200
SEATTLE, WASHINGTON 98104
(Address of principal executive offices, with zip code)
(206) 754-5711
(Registrant's telephone number, including area code)
<PAGE> 2
ITEM 5. OTHER EVENTS.
On June 16, 1999, Corixa Corporation, a Delaware corporation (the
"Company") announced that on June 15, 1999 it had entered into a multi-year
research collaboration and license agreement with the pharmaceutical division of
Japan Tobacco Inc. Further details regarding this announcement are contained in
the Company's press release dated June 16, 1999 attached as an exhibit hereto
and incorporated by reference herein.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
Exhibit 99 Corixa Corporation Press Release dated June 16, 1999.
<PAGE> 3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CORIXA CORPORATION
Date: June 29, 1999 By: /s/ Michelle Burris
--------------------------------------
Michelle Burris
Vice President and Chief
Financial Officer
<PAGE> 4
CORIXA CORPORATION
INDEX TO EXHIBITS
<TABLE>
<CAPTION>
EXHIBIT NUMBER DESCRIPTION
-------------- -----------
<S> <C>
99 Press Release dated June 16, 1999
</TABLE>
<PAGE> 1
EXHIBIT 99
For more information:
Michelle Burris Jesse Ciccone
Corixa Corporation FitzGerald Communications Inc.
(206) 754-5720 (415) 986-9500
[email protected] [email protected]
FOR IMMEDIATE RELEASE
CORIXA PARTNERS WITH JAPAN TOBACCO
TO RESEARCH LUNG CANCER VACCINES IN JAPAN AND NORTH AMERICA
SEATTLE, WA, JUNE 16, 1999 -- Corixa Corporation (Nasdaq: CRXA), a research- and
development-based biotechnology company, today announced it has entered into a
multi-year research collaboration and license agreement with the pharmaceutical
division of Japan Tobacco Inc. (JT) to support Corixa's development of
therapeutic lung cancer vaccines. The agreement provides JT with exclusive
rights to vaccine and antibody-based products aimed at treating lung cancer and
potentially other solid tumors in humans, principally in Japan and North
America, as well as co-exclusive rights, with Zambon Group spa, in China.
"We are extremely pleased to join efforts with JT to fight such a pervasive and
deadly disease," said Mark McDade, President and Chief Operating Officer of
Corixa. "This collaboration gives Corixa valuable resources needed to further
our goal of achieving rapid discovery and development of novel therapeutic
products for use in one of the world's largest cancer markets. Moreover, this
new partnership, combined with our recently-announced collaboration with Zambon
Group SPA, means products that may result from our lung cancer antigen discovery
efforts could be available on a worldwide basis."
TERMS OF THE AGREEMENT
Under the terms of the agreement, JT receives certain rights to develop vaccine
products containing Corixa's novel lung cancer antigens, including antigens
formulated using Corixa's microsphere delivery system and proprietary adjuvant
technologies. In addition, Corixa may receive over $40 million in license fees,
research funding and milestone payments based upon successful clinical and
commercial progress, and royalties will be paid on annual net sales achieved by
JT or its partners. Although the companies are not disclosing further specific
financial details, a significant percentage of the potential payments is
guaranteed. The effectiveness of the new agreement is subject to the expiration
or early termination of the required waiting period under Hart-Scott Rodino
Antitrust Improvements Act of 1976, as amended, which is currently anticipated
to occur in the third quarter of 1999.
- MORE -
<PAGE> 2
Cancer experts generally agree that lung cancer is the most common malignancy in
the world. With annual incidence in the U.S., Europe and Japan in excess of
500,000 patients, and projected worldwide incidence expected to exceed 2,000,000
by the year 2000 (according to figures obtained from New Medicine), improved
diagnosis and therapy is urgently needed. Scientists at Corixa have initiated a
program to discover lung cancer antigens that the company believes will be
useful in developing diagnostic and therapeutic products for lung cancer.
ABOUT CORIXA
Corixa Corporation is a research- and development-based biotechnology company
committed to saving lives and preventing diseases by understanding and directing
the immune system. Corixa applies its advanced immunological expertise and
proprietary technology platforms to rapidly discover and optimize vaccines and
other antigen-based products. The Company partners with innovative developers
and marketers of pharmaceuticals and diagnostic products to make its solutions
available to patients around the world. Corixa was founded in 1994 and is
headquartered in Seattle, Washington. For more information about Corixa, please
visit our Website at http://www.corixa.com.
ABOUT JT
JT is a diversified company with annual revenues of approximately $22 billion
and assets exceeding $15 billion (using an exchange rate of 120.55Y:$1.00USD).
JT entered the pharmaceutical business in 1987 and currently markets a wide
range of pharmaceutical products. JT is currently engaged in the clinical
development of anti-diabetic and anti-inflammatory agents, among other products,
and has launched an anti-HIV drug in Japan. JT presently conducts drug discovery
research at its Central Pharmaceutical Research Institute in Osaka, Japan.
FORWARD LOOKING STATEMENTS
Except for the historical information presented, the matters discussed in this
press release are forward-looking statements that are subject to certain risks
and uncertainties that could cause actual results to differ materially from any
future results, performance or achievements expressed or implied by such
statements. Such risks and uncertainties include possible delays or failure by
Corixa, JT or Zambon to develop and/or commercialize any technology covered by
this agreement or Corixa's agreement with Zambon, respectively, possible risks
related to adverse clinical results as products including any of such technology
move into clinical trials, impact of alternative technological advances and
competition, inherent risks in early stage development of such technology, and
other risks detailed from time to time in the Corixa's public disclosure filings
with the U.S. Securities and Exchange Commission (SEC), including the Annual
Report on Form 10-K for the fiscal year ended December 31, 1998, the Company' s
Registration Statement on Form S-4, as amended and filed on January 12, 1999,
the Form 8-K filed on April 23, 1999, and the Quarterly Report on Form 10-Q for
the quarter ended March 31, 1999. Copies of Corixa's public disclosure filings
with the SEC are available from its investor relations department.
# # #
