Cell Genesys To Discontinue License Agreement With GPC Biotech For P27/P16 Gene Therapy
FOSTER CITY, Calif., March 21 /PRNewswire-FirstCall/ -- Cell Genesys, Inc. (Nasdaq: CEGE - news) announced today that it has given notice to GPC Biotech AG (FSE: GPC) that Cell Genesys is discontinuing the companies' research collaboration and license agreement for p27/p16 gene therapy for cancer and cardiovascular disease. The decision to discontinue the agreement reflects the reprioritization of preclinical programs in cancer gene therapy currently being pursued by Cell Genesys as well as a determination that p27/p16 gene therapy for cardiovascular disorders such as restenosis is a less compelling opportunity in light of the success of new treatment strategies for restenosis including drug-coated stents. Cell Genesys had been conducting preclinical research studies under the collaboration since 1998.
``Cell Genesys is in the fortunate position to have multiple clinical and preclinical product candidates in the cancer area based on three product platforms -- cancer vaccines, oncolytic viruses and cancer gene therapies -- and as a result, we need to periodically reprioritize our product portfolio based on scientific and business considerations,'' stated Joseph J. Vallner, Ph.D., president and chief operating officer. ``While we achieved positive results in certain preclinical studies of p27/p16 gene therapy, our other programs including oncolytic viruses and antiangiogenesis gene therapy will receive a higher priority going forward based on the strength of the preclinical data being generated for those product candidates.''
In 1998, Cell Genesys exclusively licensed a family of cell cycle inhibitor genes from Mitotix, Inc., which was acquired in 2002 by GPC Biotech (Munich, Germany). The licensed genes include p16, p27 and novel p27/p16 fusion genes. The collaboration was initially focused on the development of cardiovascular gene therapy for restenosis and was expanded to include cancer gene therapy applications in 1999. No human clinical trials have been initiated to date for any product candidates arising from this collaboration.
Cell Genesys is focused on the development and commercialization of innovative therapeutic products for cancer based on gene therapy technologies. The company is pursuing three cancer product platforms -- GVAX® cancer vaccines, oncolytic virus therapies and in vivo cancer gene therapies. Clinical trials of GVAX® vaccines are under way in lung cancer, prostate cancer, pancreatic cancer, leukemia and myeloma. Clinical trials of oncolytic virus therapies include CG7060 and CG7870 in prostate cancer. Preclinical stage programs include oncolytic virus therapies and gene therapies for multiple types of cancer. Cell Genesys' majority-owned subsidiary, Ceregene, is focused on gene therapies for neurologic disorders. Cell Genesys also continues to hold approximately nine million shares of common stock in its former subsidiary, Abgenix, an antibody products company. Cell Genesys is headquartered in Foster City, CA and has manufacturing operations in San Diego, CA, Hayward, CA and Memphis, TN. For additional information, please visit the company's website at www.cellgenesys.com.
Statements made herein, other than statements of historical fact, including statements about the company's and its subsidiaries' progress, results and potential of cancer and other preclinical studies, clinical trials, marketability and success of potential products and nature and growth of product pipelines, corporate partnerships and license agreements are forward-looking statements and are subject to a number of uncertainties that could cause actual results to differ materially from the statements made, including risks associated with the continuation of research collaborations, the success of research and development programs, results achieved in future preclinical studies and clinical trials, the regulatory approval process, competitive technologies and products, the scope and validity of patents, corporate partnerships and additional financings. For information about these and other risks which may affect Cell Genesys, please see the company's Annual Report on Form 10-K dated April 2, 2001 as well as Cell Genesys' reports on Form 10-Q and 8-K and other reports filed from time to time with the Securities and Exchange Commission.
CONTACT: Jennifer Cook Williams, Associate Director, Corporate Communications of Cell Genesys, Inc., +1-650-425-4542
SOURCE: Cell Genesys, Inc. |
