hursday March 2, 6:00 am Eastern Time
Company Press Release
SOURCE: ILEX Oncology, Inc.
ILEX Oncology Services Acquires U.S. Operations of British Biotech
Maryland Office and Staff Expand East Coast Presence
SAN ANTONIO and OXFORD, England, March 2 /PRNewswire/ -- ILEX(TM) Oncology Services,
Inc., and British Biotech plc (Nasdaq: BBIOY - news) today announced the signing of an
agreement under which ILEX acquired the operations of British Biotech's Annapolis, Maryland
office.
Under the terms of the agreement, ILEX has acquired the Annapolis facility and will provide
contracted drug development services necessary to complete the ongoing clinical development
of marimastat for British Biotech in North America. Marimastat is currently being investigated in
seven Phase III studies designed to assess the compound's potential to slow the progression of
a range of solid tumors and improve patient survival.
``In addition to an important series of contracted projects and an already established workforce,
this acquisition will allow us to interact more effectively with our East Coast-based customers,''
said Michael T. Dwyer, president of ILEX Oncology Services. ``It provides closer proximity to
regulatory agencies and many of our clinical investigators. We believe that these elements will
create cost efficiencies that can be passed along to the pharmaceutical and biotech companies
utilizing our services.''
The chief executive of British Biotech, Dr. Elliot Goldstein, said, ``This agreement furthers the
Company's strategy of creating strong partnerships and ensuring clinical development is
conducted in an efficient and cost effective manner. ILEX's commitment to and focus on
oncology products makes this an ideal relationship for British Biotech.''
Following the agreement, management of the Maryland facility will be under the direction of
Kathleen Heck, vice president of clinical operations at ILEX. Heck joined ILEX in 1995 and has
directed client services and project management of many of the pre-clinical and clinical studies
for ILEX customers. She most recently served as director of business development.
ILEX Oncology Services, Inc. is a wholly owned subsidiary of ILEX Oncology, Inc. (Nasdaq:
ILXO - news), a drug development company focused predominantly on accelerated development
of drugs for the treatment and prevention of cancer. The company does this in two ways: by
offering drug development services on a contract basis to pharmaceutical and biotech
companies through its ILEX Oncology Services subsidiary and by advancing a diversified
portfolio of anticancer drugs through its ILEX Products subsidiary. These complementary
businesses draw from the company's core expertise: relationships with international oncology
experts, strategic alliances that provide unparalleled access to patient recruitment for clinical
trials, and simultaneous European and US drug development and approval capabilities.
More information on ILEX Oncology, Inc. can be accessed on the World Wide Web at
www.ilexoncology.com. British Biotech is a research and development-stage pharmaceutical company based in Oxford,
UK, which is developing drugs for the treatment of unmet medical needs such as cancer and
inflammatory and infectious diseases. The main technology platform is inhibition of
metalloenzymes which will be supplemented through the addition of externally-generated
programs.
Additional information on British Biotech may be found on the Internet at
www.britishbiotech.com. Certain statements contained herein are ``forward-looking'' statements (as such term is defined
in the Private Securities Litigation Reform Act of 1995). Because such statements include risks
and uncertainties, actual results may differ materially from those expressed or implied by such
forward-looking statements. Factors that could cause actual results to differ materially from
those expressed or implied by such forward-looking statements include, but are not limited to,
the early stage of the companies' compounds under development; risks in technology and
product development; failure to successfully complete clinical trials; failure to receive market
clearance from regulatory agencies; dependence on third parties and partners and those risks
described in the Form S-3 filed by ILEX Oncology, Inc. on January 7, 2000 (Commission file
#333-95353), the ILEX Annual Report on Form 10-K for the year ended December 31, 1998, in
filings made by ILEX with the SEC and those in the British Biotech plc Annual Report dated
April 30, 1999. The companies disclaim any obligation to update these forward-looking
statements.
Contact:
Connie Wierman, Business Dev., ILEX Oncology Services, Inc., 210-949-8233
Ann Stevens, Investor Relations, ILEX Oncology, Inc., 210-949-8230
Deborah Sibley, Sibley & Associates Communications, 210-497-3250
Tony Weir, British Biotech plc, 011 44 1865-781166
Gerard Coffey, G A Kraut Company, 212-696-5600
SOURCE: ILEX Oncology, Inc.
