Incyte Genomics Signs Exclusive Patent Agreement With Genentech
to Enable Commercialization of Therapeutic Antibodies to Four
Proteins
-Oct 23, 2001 07:15 AM (PR Newswire)
-http://finance.lycos.com/home/news/story.asp?story=25162771
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/FROM PR NEWSWIRE SAN FRANCISCO 415-543-7800/
[STK] INCY DNA
[IN] MTC BIO
[SU] LIC
TO BUSINESS AND MEDICAL EDITORS:
Incyte Genomics Signs Exclusive Patent Agreement With Genentech to Enable
Commercialization of Therapeutic Antibodies to Four Proteins
First Antibody Outlicensing Agreement for Incyte Genomics, the Holder
Of the Industry's Largest Commercial Portfolio of Patented
Full-Length Genes, Antibodies and Proteins
PALO ALTO, Calif., Oct. 23 /PRNewswire/ --
Incyte Genomics, Inc. (NASDAQ:INCY), the leading genomic information company,
today announced the exclusive licensing by Genentech, Inc. (NYSE:DNA) of
Incyte patent rights covering therapeutic antibodies to four proteins
discovered by Incyte. Incyte is entitled to receive clinical development
milestone payments for the antibodies and, if any are successful in clinical
development and ultimately commercialized, Incyte will be entitled to receive
royalties. Financial terms of the agreement and the intended clinical uses of
the four antibodies were not disclosed.
Working from its comprehensive database of transcribed genes, Incyte
scientists have compiled the industry's largest commercial patent portfolio of
full-length genes, with over 600 issued to date. Incyte's claims under the
majority of these patents cover not only the gene transcripts themselves, but
also the proteins encoded by the gene transcripts and antibodies to those
proteins.
"This agreement signals a significant milestone for Incyte in affirming
the value of our scientific discoveries and intellectual property portfolio
and is a tangible indicator of their significant shareholder value," said
Roy A. Whitfield, Chief Executive Officer of Incyte |
