Press Releases

AMERICAN BIOGENETIC SCIENCES, INC. TO PROVIDE UNIQUE MONOCLONAL ANTIBODIES TO THE PHARMACEUTICAL AND BIOTECHNOLOGY INDUSTRY

Copiague, New York, March 7, 2000 - American Biogenetic Sciences, Inc. (ABS) (OTCBB:MABA) today announced that it is making available its patented enabling technology -- the antigen-free mouse colony to pharmaceutical and biotechnology companies who wish to utilize this unique resource for monoclonal antibody (Mab) production.

In its business model, ABS would provide its antigen-free technology and ancillary services to pharmaceutical and biotechnology companies that want to make antibodies for diagnostic, therapeutic and target validation uses, in return for a service fee, developmental milestone payments and potential royalties on products commercialized. This competitive and potentially superior service could be attractive to companies who have found it difficult or have been unable to produce Mabs to antigens that have demonstrated low immunogenicity, which is a major limitation of other technologies. This technology may also play a functional genomic role by helping to elucidate the function of potential drug targets such as newly identified receptors.

Alfred J. Roach, Founder and Chairman of ABS, said, "We are excited about the launch of this service which gives our partners the benefit of many years of research by ABS and its collaborators in the ABS Global Scientific Network. The distinct advantage of the antigen-free technology is that Mabs that are difficult or impossible to produce will have a greater chance of expression in our system. Companies may also benefit from technology licensed by ABS from the Medical Research Council of Great Britain for the production of humanized monoclonal antibodies."

ABS holds multiple patents on its antigen-free mouse colony. These mice have a pristine immune system that has never been exposed to environmental or food allergens and, therefore, provide a highly specific and potent immune response to antigenic challenge. This technology has been used to successfully produce high-specificity and high-affinity Mabs that have eluded attempts at their production using conventional methods.

Interest in Mab development has intensified. Companies such as Abgenix, Inc., Medarex, Inc., and Protein Design Labs, Inc., have benefited from partnering with some of the world's leading pharmaceutical companies to develop Mabs for their product pipelines. According to the Pharmaceutical Research & Manufacturers Association, 20% of all biopharmaceuticals in development in 1998 were monoclonal antibodies. Analysts believe that a decade from now, there could be more than 100 monoclonals on the market -- up from 8 today -- with revenues estimated at upwards of $50 billion. (Business Week, March 6, 2000)

Previously, the antigen-free mouse colony has been employed almost exclusively for ABS' proprietary research programs and to support the work of a limited number of academic collaborators. Mr. Roach further stated, "Making this technology available to other pharmaceutical and biotechnology companies represents a fundamental expansion in the scope of the ABS business model."

American Biogenetic Sciences, Inc. based in Copiague, N.Y., researches and develops diagnostics tests for cardio-pulmonary conditions and infectious diseases, as well as new treatments for neurological disorders including epilepsy, migraine, mania, Parkinson's disease and Alzheimer's disease. ABS also seeks out new technologies and conducts research and development through its Global Scientific Network in the United States, Europe, Israel, Russia and China.

Statements in this release that are not strictly historical are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995, and should be considered as subject to various risks and uncertainties that could cause actual results to differ materially from those anticipated. For further details and a discussion of these risks and uncertainties, see the companies' Securities and Exchange Commission filings including their annual report or Form 10-K.