Press Releases

ABS AWARDED PATENT FOR TREATING AND PREVENTING MIGRAINE

Extends Patent Protection

Copiague, New York, September 25, 2001 – American Biogenetic Sciences, Inc. (ABS)(NASDAQ:MABA) today announced that the U.S. Patent Office awarded a patent for an ABS technology that provides an improved method for treating and preventing migraine and affective illness, which afflicts more than 29 million people in the United States alone.

The U.S. Patent Office issued U.S. Patent No. 6,268,396, “Use of Valproic Acid Analog for the Treatment and Prevention of Migraine and Affective Illness,” which is assigned exclusively to ABS. As part of an agreement reached last year, ABS has licensed the patent covering these promising new neurological compounds exclusively to Abbott Laboratories. Under the agreement, Abbott has worldwide rights to develop and market products based upon the technology.

“Migraine headaches afflict an estimated 12.6 percent of the population with direct treatment costs alone at $1 billion annually,” said Josef C. Schoell, ABS president and chief operating officer. “This newest patent further strengthens our portfolio of potential products aimed at ultimately treating serious neurological disorders, such as migraines.”

The patent covers methods of treating migraines with ABS’ proprietary agent ABS-103. The patent further consolidates and strengthens the intellectual property portfolio that ABS has established to protect its interests in these neurological agents. ABS’ patent coverage for the method of fighting migraines extends to June 22, 2019 under the patent announced today

.“Our partnership with Abbott Laboratories is an important part of our commercial strategy,” Mr. Schoell notes. “Our innovation in developing breakthrough therapeutic candidates for neurological disorders, combined with Abbott’s large and experienced research and development and marketing and sales teams, provide all the partnership elements needed to bring new products to market,” he said.

American Biogenetic Sciences, Inc., is based in Copiague, NY, and researches and develops diagnostic tests for cardiopulmonary conditions and infectious diseases, as well as for new treatments for neurological disorders, including epilepsy, migraine, mania, and Alzheimer’s disease.

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 (including risks related to successful development and marketing of ABS-103 and other products) that could cause actual results to differ materially from those anticipated. For further details and a discussion of these risks and uncertainties, see the company’s Securities and Exchange Commission filings including its annual report or 10-K form.

Or, visit the ABS Web site, www.mabxa.com

 


American Biogenetic Sciences, Inc. ©1999