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Wednesday July 25, 8:02 am Eastern Time
Press Release
SOURCE: Genta Incorporated
Genta Licenses Antisense Technology to EpiGenesis
Pharmaceuticals
BERKELEY HEIGHTS, N.J., and CRANBURY, N.J., July 25 /PRNewswire/ -- Genta
Incorporated (Nasdaq: GNTA - news) today announced completion of a licensing
agreement for several patents to EpiGenesis Pharmaceuticals of Cranbury, NJ. The
non-exclusive agreement includes an upfront cash payment, along with royalty payments on
product sales. Fundamental claims in the Genta patents involve methods, compositions, and
processes for in vitro and in vivo inhibition of protein synthesis by antisense oligonucleotides.
The patents in this portfolio are exceptionally broad and enabling for most pharmaceutical
uses, as well as many diagnostic applications. Genta retains rights to these patents for its own
use.
``Although this agreement represents the 4th transaction of this type for Genta, EpiGenesis is
the first such company to be actively engaged in ongoing clinical trials with an antisense
product,'' said Mr. Thomas Burger, Genta's Vice President for Corporate Development,
who went onto note: ``Genta has a deep patent portfolio for therapeutic applications, and we
are the only company that can offer unrestricted sublicenses for these controlling patents. We
believe our current licensing strategy will both accelerate the general adoption of antisense
technology, as well as expand the number of companies with whom Genta will share
economic interests.''
Dr. James C. Mannion, President and Chief Operating Officer at EpiGenesis commented:
``This agreement enables EpiGenesis to both accelerate and broaden our discovery and
development activities focused on creating blockbuster products for common respiratory
diseases. Our lead product for asthma, EPI-2010, is a respirable antisense oligonucleotide
(RASON) that targets the adenosine A1 receptor and is currently entering Phase II clinical
trials. The asthma market represents about half of the $20 billion per year respiratory market
and is expected to double by 2007. We are pleased with the rapid completion of these
negotiations, and we look forward to continuing our mutually rewarding collaboration with
Genta.''
EpiGenesis is a drug discovery and development company focused on the rapid transformation of genomic data into novel
medicines for the treatment of common but poorly addressed respiratory diseases, including asthma, chronic obstructive
pulmonary disease and allergic rhinitis. EpiGenesis' unique blend of core competencies are based on RASON technology-used
in target validation as well as for RASON and small molecule therapeutics to treat respiratory disease; and improved disease
models that provide a more effective method for developing and evaluating respiratory therapeutics.
Genta Incorporated is a biopharmaceutical company with a diversified product portfolio that is focused on anticancer therapy.
The research platform is anchored by oligonucleotide chemistry, particularly applications of antisense technology.
Genasense(TM), the Company's lead compound, has received ``Fast Track'' and ``Orphan Drug'' designation from the Food
and Drug Administration. Genasense(TM) is currently undergoing late-stage, Phase 3 clinical testing. Genta's pipeline also
comprises a portfolio of small molecules, including gallium-containing compounds for treatment of diseases associated with
accelerated bone loss, Androgenics compounds for prostate cancer, and Decoy Aptamers for broad anticancer use. Genta
aims to become a direct marketer of its pharmaceutical products in the United States. For more information about Genta,
please visit our website at: genta.com.
The statements contained in this press release that are not historical are forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, including statements regarding the expectations, beliefs, intentions or strategies regarding the future. Without limiting
the foregoing, the words ``anticipates,'' ``believes,'' ``expects,'' ``intends,'' ``may'' and ``plans'' and similar expressions are
intended to identify forward-looking statements. The Company intends that all forward-looking statements be subject to the
safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the
Company's views as of the date they are made with respect to future events, but are subject to many risks and uncertainties,
which could cause the actual results of the Company to differ materially from any future results expressed or implied by such
forward-looking statements. For example, the results obtained in pre-clinical or clinical studies may not be indicative of results
that will be obtained in future clinical trials, and delays in the initiation or completion of clinical trials may occur as a result of
many factors. Further examples of such risks and uncertainties also include, but are not limited to: the obtaining of sufficient
financing to maintain the Company's planned operations; timely development, receipt of necessary regulatory approvals, and
acceptance of new products; the successful application of the Company's technology to produce new products; the obtaining of
proprietary protection for any such technology and products; the impact of competitive products and pricing and
reimbursement policies; and changing market conditions. The Company does not undertake to update forward-looking
statements. Although the Company believes that the forward-looking statements contained herein are reasonable, it can give no
assurances that the Company's expectations are correct. All forward-looking statements are expressly qualified in their entirety
by this cautionary statement and other factors detailed in the Company's reports filed with the Securities and Exchange
Commission.
SOURCE: Genta Incorporated |
