B.C.'s ImmGennics Acquired in Stock Swap Transaction

In November, 2000, ImmGenics Pharmaceuticals Inc. (ImmGenics), a biotechnology company based out of the University of British Columbia, was acquired by Abgenix, Inc. (Abgenix), a NASDAQ-listed biopharmaceutical company operating in California, for US$77 million. The all-stock transaction was structured as a plan of arrangement under which the security holders of ImmGenics obtained securities with rights substantially equivalent to the economic and voting attributes of the Abgenix common shares.

ImmGenics focuses on the commercialization of high potency, high affinity monoclonal antibodies for the diagnosis, prevention and treatment of human disease. Its SLAM technology (the Selected Lymphocyte Antibody Method) provides a fast and efficient route to examine in detail the immune repertoire to select rare single immune cells secreting antibodies with the desired customized combination of the specificity, functionality, activity, high affinity with ideal binding kinetics and high potency. The genetic information is copied to allow manufacture of monoclonal copies of those antibodies as high potency candidate therapeutic or diagnostic product. Abgenix is a biopharmaceutical company that develops antibody therapeutic products for the treatment of a variety of disease conditions.

Blake, Cassels & Graydon LLP acted as Canadian counsel to ImmGenics with a team of lawyers that included Catherine Wade, Bill Maclagan, Jennifer Lynch, Joseph McArthur, Kevin Zimka, Peter Rubin and Calla Nestibo. Wilson Sonsin, Goodrich & Rosati in San Francisco acted as US counsel to ImmGenics with a team of lawyers that included Michael Dorf, David Gerson, Ronald Roth and George Parker.

Stikeman Elliott acted as Canadian counsel to Abgenix with a team that included Jonathan Drance, Hein Poulus, Philip Griffin and Neville McClure from their Vancouver office, John Lorito and Dean Kraus from their Toronto office, and Ken Ottenbreit and Louis Samson of their New York office. O’Melveny & Myers LLP in San Francisco acted as US counsel to Abgenix with a team lead by Peter Healy and including Stella Leung, Natasha Ell and Daniel Dunn.