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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): MAY 21, 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)
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ITEM 5. OTHER EVENTS.
On May 24, 1999, Corixa Corporation, a Delaware corporation (the
"Company") announced that on May 21, 1999 it had entered into a
multi-year research collaboration and license agreement with Inpharzam
International, S.A., a corporation organized and existing under the laws
of Switzerland and a wholly-owned subsidiary of Zambon Group spa, a
corporation organized and existing under the laws of Italy. Further
details regarding this announcement are contained in the Company's press
release dated May 24, 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 May 24, 1999.
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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 2, 1999 By:/S/ Michelle Burris
-------------------------------------
Michelle Burris
Vice President and Chief Financial Officer
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CORIXA CORPORATION
INDEX TO EXHIBITS
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EXHIBIT NUMBER DESCRIPTION SEQUENTIALLY PAGE NUMBER
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99 Press Release dated May 24, 1999
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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
ZAMBON AND CORIXA TEAM UP TO FIGHT LUNG CANCER
License Rights Aimed at European Market
SEATTLE, WA, MAY 24, 1999 -- Corixa Corporation (Nasdaq: CRXA), a research-based
biotechnology company, and Zambon Group spa, a research-intensive multinational
pharmaceutical company, today announced they have entered into a multi-year
research collaboration and license agreement covering Corixa's lung cancer
antigen discovery program. The agreement provides Zambon with exclusive rights
to vaccine products aimed at treating lung cancer in Europe, the countries of
the former Soviet Union, Argentina, Brazil and Colombia, as well as co-exclusive
rights in China. Corixa retains its exclusive rights with respect to the rest of
the world. Under the terms of the agreement, Zambon 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.
TERMS OF THE AGREEMENT
Under the terms of the agreement, Corixa may receive over $21.5 million in
license fees, research funding and milestone payments based upon successful
clinical and commercial progress. Included in this, Zambon will purchase $2.0
million in shares of Corixa common stock at a premium to its fair market value.
Further financial details have not been disclosed by either party.
"The Zambon Group, is well-known for its focus on diseases of the respiratory
system," said Mark McDade, President and COO of Corixa. "Consequently, we
believe a collaboration with Zambon will give Corixa the benefit of high
priority development by a team whose scientists and clinicians understand one of
the most important lung diseases worldwide - lung cancer. We are excited that
our program will be one of the cornerstones in Zambon's growth strategy."
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McDade added, "This collaboration is also ideal for Corixa's rapid worldwide
development of a vaccine aimed at this deadly cancer because we retain our
ability to seek other partners for the US and Japan, two of the largest
potential markets for a novel lung cancer therapeutic."
"Developing a lung cancer vaccine with Corixa is a new major step for Zambon to
consolidate our project portfolio into biotech and major lung diseases," said
Dr. Max Fehlmann, director of research and development and board member at
Zambon Group spa.
ABOUT ZAMBON GROUP SPA
Zambon Group spa, headquartered in Milan, Italy, is a research-intensive,
multinational pharmaceutical firm focused in the development and
commercialization of products for the treatment of human respiratory diseases.
Zambon Group spa, is a multinational company engaged in production of fine
chemical, pharmaceutical and biomedical products, with sales of more than $500
million. The company operates worldwide through sixteen subsidiaries, with
production in Brazil, China, Italy, Spain and Switzerland. Zambon recently
entered into a worldwide agreement with Sheffield Pharmaceuticals, Inc. to
develop the use of a novel metered solution inhale pulmonary delivery system for
the treatment of respiratory diseases.
ABOUT CORIXA
Corixa Corporation (Nasdaq: CRXA) is a research-based biotechnology company
striving to save lives and prevent 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, USA. For more information about the
company, please visit its Website at www.corixa.com.
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 or Zambon to develop and/or commercialize any technology covered by this
agreement, possible risks related to adverse clinical results as products
including any of such technology move into clinical trials, the inability of
Corixa to obtain partner for such technology for the Asian and/or American
markets, impact of alternative technological advances and competition, inherent
risks in early stage development of such technology; the potential dilutive
effect to stockholders from the equity purchase described above; 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,
and the Form 8-K filed on April 23, 1999. Copies of Corixa's public disclosure
filings with the SEC are available from its investor relations department.
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