NEW HAVEN, Conn., Dec. 5 /PRNewswire-FirstCall/ -- Genaissance Pharmaceuticals, Inc. (Nasdaq: GNSC - News) today announced that it has reached a milestone in its pharmacogenetics-based alliance with Johnson & Johnson Pharmaceutical Research & Development, division of Janssen Pharmaceutica, N.V. (J&JPRD). Genaissance will grant certain rights to J&JPRD related to this event and J&JPRD will make a payment to Genaissance in recognition of those rights payable prior to December 31, 2002.
"This milestone demonstrates that our HAP(TM) Technology can be used to identify meaningful associations between genetic variation and clinical observations," said Kevin Rakin, President and Chief Executive Officer of Genaissance Pharmaceuticals. "We are pleased with the close and productive working relationship we have with our colleagues at Johnson & Johnson Pharmaceutical Research & Development and look forward to continuing to work closely together to further integrate the results generated from our alliance into pharmaceutical product development."
Formed in November 2000, the multi-year agreement with J&JPRD covers the discovery, development and commercial applications of Genaissance HAP(TM) Technology. Under the terms of the agreement, J&JPRD gained a license to the Genaissance HAP(TM) Technology platform. In addition, Genaissance reserved genotyping capacity in its HAP(TM) Typing facility to assist J&JPRD in the determination of HAP(TM) Markers in clinical trial samples.
Genaissance Pharmaceuticals, Inc. is a world leader in the discovery and use of human gene variation for the development of personalized medicines. The Company markets its technology and clinical development skills to the pharmaceutical industry as a complete solution for improving the development, marketing and prescribing of drugs. Genaissance currently has agreements with three of the top five pharmaceutical companies as well as one of the premier biopharmaceutical companies: AstraZeneca, Biogen, Johnson & Johnson PRD, and Pfizer. Genaissance is located in Science Park in New Haven, Connecticut. |
