Valentis Enters Cross License Agreement With Genzyme
BURLINGAME, Calif., Jan. 9 /PRNewswire-FirstCall/ -- Valentis, Inc. (Nasdaq: VLTS - news) today announced that it has entered a non-exclusive cross license agreement with Genzyme Corporation in which Genzyme receives rights to Valentis' GeneSwitch® gene regulation technology for research use and Valentis receives certain rights to Genzyme's plasmid DNA manufacturing technology.
Valentis' GeneSwitch® system allows researchers to control the level and duration of expression of selected genes by oral administration of a small molecule drug. Genzyme plans to use the GeneSwitch® technology for its internal product research.
Genzyme's manufacturing technology (U.S. Patent No. 5,837,529) allows Valentis to improve the yield of scaled-up production of plasmid DNA. The technology is useful for Valentis' internal manufacturing requirements and also for commercial manufacturing through the pAlliance(TM), Valentis' manufacturing collaboration with Qiagen and DSM Biologics. Plasmids are circular segments of DNA that contain a therapeutic gene and components that regulate its expression. Valentis' lipid and polymer delivery systems facilitate the delivery of the plasmid DNA into target cells.
``The cross license with Genzyme is the fifth license of the GeneSwitch® technology to pharmaceutical and biotechnology companies for internal research efforts that we have completed in 2001,'' stated Gregory M. McKee, Valentis' Senior Director of Business Development. ``In addition, this agreement provides an option for Genzyme to license the GeneSwitch® technology for potential use in selected gene therapy products.''
Valentis is currently developing the GeneSwitch® system as a component of a regulated erythropoietin gene product.
Valentis converts genomic discoveries into medicines. The Company applies its proprietary synthetic, lipid and polymer, gene delivery, gene regulation, and PEGylation technologies to create novel therapeutic products in the fields of cardiovascular disease, oncology, hematology, and infectious diseases. Enabled by its expertise in preclinical research and development, clinical development, and manufacturing, Valentis has created a broad product portfolio designed to improve the safety, efficacy and dosing characteristics of genes, proteins, peptides, antibodies, viruses and liposomes. Additional information about Valentis can be found at www.valentis.com. Technical and licensing information on the GeneSwitch® technology can be found at www.geneswitch.com.
Genzyme Corp. is a biotechnology company that develops and markets innovative products and services for unmet medical needs.
Statements in this press release that are not strictly historical are ``forward looking'' statements as defined in the Private Securities Litigation Reform Act of 1995. The words ``believes,'' ``expects,'' ``intends,'' ``anticipates,'' variations of such words, and similar expressions identify forward-looking statements, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could affect Valentis' actual results include the need for additional capital, the early stage of product development, uncertainties related to clinical trials, and uncertainties related to patent position. There can be no assurance that Valentis will be able to develop commercially viable gene medicines or PEGylated biopharmaceuticals, that any of the company's programs will be partnered with pharmaceutical partners, that necessary regulatory approvals will be obtained, or that any clinical trial will be successful. Actual results may differ from those projected in forward-looking statements due to risks and uncertainties that exist in the companies' operations and business environments. These are described more fully in the Valentis Annual Report on Form 10-K for the period ended June 30, 2000 and Quarterly Report on Form 10-Q for the period ended September 30, 2001, each as filed with the Securities and Exchange Commission.
SOURCE: Valentis, Inc. |
