AGOURON PHARMACEUTICALS INC - Acquires New HIV Protease Inhibitor From Japan Energy Corp.[[80]
Canadian Market News from Market News Publishing
Tuesday, June 30, 1998 at 11:16
Agouron Pharmaceuticals, Inc. announced it has acquired rights to develop and commercialize JE-2147, a novel HIV protease inhibitor discovered by Japan Energy Corporation, Tokyo, Japan. Agouron plans to initiate clinical studies of JE-2147, formerly known as KNI-764, in 1999.
Agouron will have exclusive rights to the development and commercialization of JE-2147 in North America, Europe and many other countries, while Japan Energy will supply compound for development and maintain commercialization rights in Japan, Korea, and Taiwan. Under the agreement with Agouron, Japan Energy will receive license fees of up to $26 million, including an initial $6 million license fee as well as additional milestone payments. In addition, Agouron will pay Japan Energy royalties based on sales of JE-2147.
"There is an urgent and growing need for a new HIV protease inhibitor capable of acting on virus that has become resistant to currently available compounds," said Peter Johnson, Agouron's resident and chief executive officer. "A comprehensive review of preclinical data convinced us that JE-2147 has unique potential to meet this need."
Data presented at the 12th World AIDS Conference in Geneva this week by Japan Energy scientists demonstrated that JE-2147 is fully active against a battery of virus strains representing the predominant resistance mutations produced by currently available protease inhibitors. JE-2147 also demonstrated synergistic anti-viral activity in vitro when combined with nelfinavir, indinavir, ritonavir, saquinavir, or amprenavir.
Agouron Pharmaceuticals, Inc. is an integrated pharmaceutical company committed to the discovery, development, manufacturing, and marketing of innovative therapeutic products engineered to inactivate proteins that play key roles in cancer, AIDS, and other serious diseases.
Japan Energy Corporation, established in 1929, is an organization with main businesses in petroleum resource development, oil refining and marketing, optics and electronics, and pharmaceuticals and biotechnology.
This press release may contain forward-looking statements or
predictions. These statements represent Agouron's judgment as of this date and are subject to risks and uncertainties (including those associated with regulatory approvals and the impact of competitive products) that could cause the actual results to differ materially. Important factors concerning these risks are discussed in the Company's Form 10-K for the fiscal year ended June 30, 1997 currently on file with the Securities and Exchange Commission. Agouron undertakes no obligation to publicly release the result of any revisions to such forward-looking statements which may be made to reflect events or circumstances after the date hereof or to reflect
the occurrence of unanticipated events.
For more information on Agouron you may visit the Agouron Web Site at agouron.com.
TEL: (619) 622-3009 Donna Nichols, Vice President, Head of
Corporate Communications (Investor)
TEL: (619) 622-3220 Joy Schmitt, Manager, Product Public Relations
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