MLNM,AHP
Millennium and Wyeth-Ayerst Identify Preclinical Antibacterial Compound
-- Collaboration Continues to Drive Toward Drug Development with First Preclinical Candidate and Additional Drug Targets --
CAMBRIDGE, Mass., Jan 9, 2001 /PRNewswire via COMTEX/ -- Millennium Pharmaceuticals, Inc. (Nasdaq: MLNM chart, msgs) and Wyeth-Ayerst Research, the principal pharmaceutical research and development division of American Home Products Corporation (NYSE: AHP chart, msgs), today announced that they have identified a preclinical candidate compound that has demonstrated efficacy and safety in animal models for potentially treating serious, life-threatening bacterial infections. This antibacterial compound works through a novel mechanism of action that is distinct from conventional antibacterial therapies and was identified through the application of Millennium's drug discovery technologies platform. Upon further validation of preclinical pharmacology and toxicology analyses, the companies will aggressively move forward with submission of an Investigational New Drug (IND) application to the U.S. Food and Drug Administration (FDA).
The identification of this antibacterial compound represents a landmark for the bacterial disease alliance between Millennium and Wyeth-Ayerst, as it is the first compound to achieve preclinical candidate status. Millennium also announced that it has delivered three additional novel antibacterial drug targets as part of the alliance with Wyeth-Ayerst, bringing the total to twelve antibacterial targets since the alliance began in December 1996. The delivery of the preclinical candidate and the additional drug targets will trigger undisclosed milestone payments to Millennium.
"We are very excited by the prospects for this preclinical candidate and by the other drug discovery assets that we have built with Wyeth-Ayerst," said Robert Tepper, M.D., chief scientific officer of Millennium. "The need for novel, antibacterial therapies that avoid cross-resistance to existing agents is growing, and the Millennium-Wyeth joint scientific team is highly committed to meeting this challenge by advancing the development of new and better antibacterial drugs."
"The antibacterial candidate we have just identified represents the sort of breakthrough compound that we hoped to produce through our collaboration with Millennium," said David Shlaes, Ph.D., vice president of infectious disease research for Wyeth-Ayerst. "This latest achievement is part of the strong discovery pipeline of novel leads and targets that our alliance with Millennium has established."
Millennium's five-year strategic alliance with Wyeth-Ayerst to discover and develop antibacterial drugs for human use focuses on the identification of bacteria-specific, small molecule targets and suitable drug lead candidates. Millennium will receive royalties on the sale of any products derived from the collaboration. Worldwide sales of drugs to treat bacterial and fungal infections totaled almost $20 billion in 1998, making it the second-largest pharmaceutical market.
A separate alliance between Millennium and Wyeth-Ayerst, formed in July 1996, focuses on central nervous system disorders (CNS). During 1999, Millennium announced that the CNS and bacterial disease alliances with Wyeth- Ayerst each received two-year extensions.
Wyeth-Ayerst Laboratories, a division of American Home Products Corporation, is a major research-oriented pharmaceutical company with leading products in the areas of women's health care, cardiovascular therapies, central nervous system drugs, anti-inflammatory agents, infectious disease, hemophilia, oncology, vaccines and generic pharmaceuticals. American Home Products Corporation is one of the world's largest research-based pharmaceutical and health care products companies. It is a leader in the discovery, development, manufacturing and marketing of prescription drugs and over-the-counter medications. It is also a leader in vaccines, biotechnology, and animal health care.
Millennium, a leading biopharmaceutical company, applies its comprehensive and integrated science and technology platform for the discovery and development of breakthrough therapeutic and predictive medicine products, with a goal of delivering personalized medicine. Through the industrialization of this gene-to-patient platform, Millennium is also striving to accelerate the process of drug discovery and development. Headquartered in Cambridge, Mass., Millennium currently employs more than 1,200 people.
For Millennium: This press release contains "forward-looking statements," including Millennium's expectations of future industry conditions, strategic plans and forecasts of operational results. Various risks may cause Millennium's actual results to differ materially, including: uncertainties about its drug discovery and clinical development processes, uncertainties about obtaining patent protection for its discoveries and about the commercial limitations imposed by patents owned or controlled by third parties; Millennium's dependence upon strategic alliance partners to develop and commercialize products and services based on its work; uncertainties about obtaining regulatory approvals to market products and services resulting from its development efforts; and the requirement for substantial funding to conduct research and development and to expand commercialization activities. For a further list and description of such risks and uncertainties, see the reports filed by Millennium with the Securities and Exchange Commission. Millennium disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For American Home Products Corporation: The statements in this press release may include forward-looking statements that involve risks and uncertainties including the success of obtaining additional licensees, and the inherent risks of litigation should these patents be asserted against potential infringers, as well as other risks and uncertainties detailed from time to time in periodic reports, including Elan's annual report of Form 20-F for the fiscal year ended December 31, 1998, as amended by Elan's Form 20- F/A1, both filed with the Securities and Exchange Commission.
Editor's Note: This release is available on Millennium's Web site at: www.millennium.com
Source: Millennium Pharmaceuticals, Inc.
Contact:
Gina Brazier (investor), 617-551-3611, or Maureen Suda (media),
617-551-2959, both of Millennium Pharmaceuticals, Inc.
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