Regeneron Pharmaceuticals (REGN)

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Since its inception in 1988, Regeneron Pharmaceuticals, Inc. (REGN) has operated as a research and development (R&D) company engaged in the development of drugs for the treatment of various diseases. Regeneron's goal is to become a fully integrated biopharmaceutical company by commercializing these drugs. The company has advanced a few of its pipeline drugs into clinical stage development. The leading drug programs in this regard are IL-1, for inflamatory disease, and VEGF, for cancer and eye diseases. Revenues consist of R&D collaboration payments from development partner Sanofi-Aventis and contract manufacturing payments from pharmaceutical giant Merck for a pediatric vaccine. Manufacturing agreement expired in October 2006. From 2007, revenue will mainly derive from collaboration with Sanofi-Aventis and Bayer and from technology transfers.

Regeneron is cururently based in Tarrytown, NY. In December 2006, the company signed a 15-year lease with BioMed Realty Trust, Inc. for a new corporate headquarters and research and development complex to be constructed adjacent to its current facility at the Landmark at Eastview in the Town of Greenburgh in Westchester County, New York. Regeneron also has the option to extend the lease for three additional 5-year periods. The new facilities will be constructed by BioMed Realty Trust over the next two years.

The Platform Techonology

Regeneron's most important propriatary technology is Trap Technology utilizing engineered antibody techniques. The decoy receptors (Traps) are composed of fusions between two distinct receptor components and a portion of an antibody molecule called the "Fc region", resulting in the generation of blockers with markedly increased affinity over that offered by single component reagents. Regeneron has applied this proprietary Trap technology to create a number of therapeutic candidates such as the IL-1 Trap and the VEGF Trap. The company also developed Velocigene/VelocImmune Technology which allows custom and precise manipulation of very large sequences of DNA to produce a highly customized knock-out of a specified target gene and accelerates the production of knock-out and transgenic expression models without using either positive/negative selection or isogenic DNA.

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