>Genome Therapeutics Announces First Milestone
>in Antifungal Alliance With Schering-Plough
>
>WALTHAM, Mass., Jan. 20 /PRNewswire/ -- Genome Therapeutics Corp. (Nasdaq:
GENE - news) today announced that
>the Company has attained the first research milestone in its genomics
alliance with Schering-Plough Corporation (NYSE: SGP
>- news) to discover and develop new pharmaceutical products to treat fungal
infections. The research milestone triggered a
>payment to Genome Therapeutics. Financial terms were not disclosed.
>
>To achieve this milestone, Genome Therapeutics developed and delivered to
Schering-Plough proprietary genomic
>technologies for the rapid identification of novel target genes in two
medically important fungal pathogens, Candida albicans
>and Aspergillus fumigatus. Announced in September 1997, this multi- year
research program has a potential value of $33
>million, excluding royalties based on sales of therapeutic products
resulting from this collaboration.
>
>''This progress underscores our expertise in functional genomics and
pathogen genetics, where we remain deeply committed to
>the identification of novel targets for the development of new treatments
for infectious disease,'' said Robert J. Hennessey,
>Genome Therapeutics Chairman, President and Chief Executive Officer.
''Schering-Plough is a leader in the utilization of
>genomic information to aggressively combat emerging medical crises like
bacterial and fungal resistance.''
>
>Fungal infections have become an increasing problem in the past decade, as
the number of immunocompromised patients has
>grown with the spread of human immunodeficiency virus (HIV), an increase in
the number of organ transplants, and the use of
>more aggressive anticancer therapies. According to industry reports, the
anti-fungal market is expected to grow to
>approximately $5 billion by 2000.
>
>Genome Therapeutics Corp. is a leader in the field of genomics - the
identification and functional characterization of genes. The
>Company's commercial gene discovery strategy is to elucidate bacterial
genes responsible for many serious infectious diseases
>and identify and characterize human genes associated with major diseases.
Together with its strategic partners, Genome
>Therapeutics is using genomic information to develop a new generation of
pharmaceuticals.
>
>
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