Ribozyme Pharmaceuticals Acquires Innovir Ribozyme Assets
BOULDER, Colo.--(BUSINESS WIRE)--Aug. 16, 1999--Ribozyme Pharmaceuticals Inc. ("RPI") (Nasdaq:RZYM) Monday announced the acquisition of all of the ribozyme-based intellectual property assets of Innovir Laboratories Inc., a subsidiary of NEXELL Therapeutics Inc. (Nasdaq:NEXL).
The acquisition includes 28 patents and patent applications plus two trademarks. This intellectual property package deals with ribozyme motifs, uses of oligonucleotides for therapeutics, target validation and diagnostics, chemical modifications of oligonucleotides, and oligonucleotide delivery, detection, manufacturing and purification.
The acquisition is part of the closing of Innovir's ribozyme-based research and manufacturing operations. It does not include intellectual property associated with Innovir's External Guide Sequence technology. Financial terms of the transaction were not disclosed.
"We're pleased to be able to consolidate additional important intellectual property into RPI's already dominant patent position in the ribozyme area," said Ralph E. Christoffersen, Ph.D., CEO and president of RPI. "The resulting portfolio of more than 100 issued or allowed patents plus at least 100 additional patents under consideration places RPI in an excellent position to commercialize ribozyme therapeutics broadly across therapeutic areas."
Ribozymes are the product of Nobel Prize-winning science and are synthetically engineered to act as "molecular scissors" capable of cleaving target RNA in a highly specific manner.
RPI, located in Boulder, is the acknowledged leader in ribozyme therapeutic development. Its anti-cancer drug, ANGIOZYME(TM) is a synthetic ribozyme designed to cut off the blood supply to tumors and prevent the spread of metastases.
ANGIOZYME is developed in conjunction with Chiron Corp. and has recently completed Phase Ib human clinical trials demonstrating excellent safety and tolerability. RPI is partnered with Eli Lilly Corp. for development of HEPTAZYME(TM) for treatment of Hepatitis C virus.
This release may contain forward-looking statements that reflect management's current views of future events and operations. The information is based on management's current expectations but actual results may differ materially due to various factors, including those mentioned in this release, risks and uncertainties, including market conditions, competitive pricing, the successful outcome of clinical trials, the timely receipt of regulatory approvals and those outlined in Lilly and RPI filings with the SEC.
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CONTACT:
Ribozyme Pharmaceuticals Inc., Boulder
Ralph E. Christoffersen, 303/449-6500
or
Freeman/McCue Public Relations
Daniel McCue, 714/557-3663 |
