Geron has claimed on numerous occasions that its patents cover
the use of telomerase inhibitors to treat cancer. Most recently,
in its March 4th press release announcing "the issuance of eight
new U.S. Patents, the allowance of 11 U.S. patent applications,
and the filing of 10 U.S., six foreign national, and two
international patent applications" relating to its
telomere/telomerase technology, Geron declared:
"For its telomerase inhibition program to treat cancer, a patent
exclusively licensed to Geron and owned by UT (University of
Texas) with claims for screening compounds that modulate telomere
length recently issued. This screening technology is key for
discovering and developing telomerase inhibitors to treat cancer
and telomerase activators to treat other diseases of aging."
So, if you believe Geron's claims are valid, which I do, then
Bristol-Myers Squibb would have to pay Geron royalties on any
telomerase inhibitor they commercialized. And nothing in the
Bristol-Myers Squibb press release contradicts this eventuality.
But, let's assume Geron's patents are less comprehensive than the
company claims. The obvious negative implication is increased
competition. But the fact that Bristol-Myers Squibb is spending
money on a telomerase inhibitor research project also has
positive implications for Geron by providing further credibility to the telomerase inhibition/cancer treatment theory. It may well be
that both the Geron/Pharmacia & Upjohn team as well as the
Bristol-Myers Squibb team will come up with effective telomerase
inhibitors and each will produce substantial revenues. Remember,
Agouron has done very well with its AIDS drug despite competing
products.
I've had too many family members and friends die of cancer. So,
personally, I feel good about the Bristol-Myers Squibb telomerase
inhibition program as it improves the chances for a breakthrough
cancer treatment. And, as Geron shareholder, I expect to benefit
financially as well -- but that's secondary. |
