HGS has pioneered the development of highly targeted antibody therapies for cancer based on the TRAIL receptor apoptotic pathway. Mapatumumab (formerly HGS-ETR1) is an agonistic human monoclonal antibody that specifically binds to TRAIL receptor 1 and directly induces the death of cancer cells through apoptosis, or programmed cell death. Mapatumumab is the most advanced of any product in development that targets the TRAIL apoptotic pathway, and we believe the TRAIL pathway offers therapeutic opportunities across a broad range of cancers. Randomized Phase 2 chemotherapy combination trials are currently ongoing to evaluate mapatumumab’s potential in the treatment of advanced multiple myeloma and advanced hepatocellular cancer.

In December 2007, the Company acquired exclusive rights from Aegera Therapeutics to develop and commercialize a novel class of small molecules that also enhance apoptosis in cancer cells. These small molecules, known as IAP inhibitors, target a family of proteins that help cancer cells resist apoptosis and start growing again. Phase 1 clinical trials are ongoing to evaluate HGS1029, our lead IAP inhibitor, as monotherapy in patients with advanced solid tumors and advanced lymphoid tumors. We plan to continue the study of HGS1029 both alone and in combination with other agents, including mapatumumab.

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