Tuesday November 30, 3:30 pm Eastern Time
Company Press Release
SOURCE: Genzyme Transgenics Corporation
Genzyme Transgenics Corporation Signs Third
Agreement With Bristol-Myers Squibb
FRAMINGHAM, Mass., Nov. 30 /PRNewswire/ -- Genzyme Transgenics Corporation (Nasdaq: GZTC - news) announced
today that it has signed its third agreement with Bristol-Myers Squibb (NYSE: BMY - news) to produce therapeutic proteins
using its transgenic manufacturing system. Under this latest agreement, Genzyme Transgenics will work with Bristol-Myers
Squibb to develop a fusion protein (a product containing elements of two separate proteins) being evaluated for the treatment
of organ transplant rejection and autoimmune disorders.
In the first phase of this program, Genzyme Transgenics will develop transgenic animals that produce the protein in their milk,
and Genzyme Transgenics will receive development, milestone, and maintenance fees from Bristol-Myers Squibb. Depending
on results of the development and clinical programs, it is expected that the companies would enter into supply agreements for
clinical and commercial production.
''Our expanding alliance with Bristol-Myers Squibb affirms the value of transgenic production in the development and potential
commercialization of important new biotherapeutics,'' said Sandra Nusinoff Lehrman, M.D., President and Chief Executive
Officer of Genzyme Transgenics. ''We are pleased to expand our relationship with Bristol-Myers Squibb, a partner who shares
our commitment to provide innovative new therapies for unmet needs. Together, we can facilitate the next generation of new
drug development and biopharmaceutical production.''
Genzyme Transgenics is currently working with Bristol-Myers Squibb to develop transgenic goats that produce an
immunoglobulin fusion protein, CTLA4IG, in their milk. In July, Genzyme Transgenics earned success and milestone fees for
achieving high-level expression of CTLA4IG in goat's milk. Bristol-Myers Squibb is currently testing CTLA4IG as a treatment
for patients with rheumatoid arthritis.
Genzyme Transgenics Corporation has successfully produced over 50 human proteins in animals' milk, including monoclonal
antibodies, immunoglobulin fusion proteins, hard-to-express and plasma proteins, achieving higher expression and at greater
volume than can be obtained using alternate production systems. Genzyme Transgenics is currently working with recognized
leaders in the biotechnology and pharmaceutical industries, like Bristol-Myers Squibb, to produce transgenic proteins as
potential treatments for a variety of diseases, such as autoimmune and inflammatory disorders, cardiovascular diseases, and
HIV/AIDS.
Genzyme Transgenics Corporation applies transgenic technology to enable the development and production of recombinant
proteins and monoclonal antibodies for medical uses. Primedica Corporation, Genzyme Transgenics' contract research
organization, provides preclinical development and testing services to pharmaceutical, biotechnology, medical device and other
companies. Genzyme Transgenics Corporation is also developing idiotypic vaccines in collaboration with the National Cancer
Institute.
This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements are subject to a number of risks, uncertainties and other factors that could cause actual results to
differ materially from future results expressed or implied by such statements. Factors that may cause such differences include,
but are not limited to, those discussed in Genzyme Transgenics Corporation's prospectuses and Forms 10-K, as filed with the
Securities and Exchange Commission, including the uncertainties associated with product development, the risk that clinical
trials will not commence when planned, the risks that a product will not prove to be safe and effective and uncertainties
associated with dependence upon the actions of government and regulatory agencies, including, without limitation, the risk that
such regulators will not grant the requisite approval for a product on a timely basis or at all.
SOURCE: Genzyme Transgenics Corporation |
