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Biotech / Medical : IMNR - Immune Response
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To: AHM who wrote (854)7/9/1998 9:02:00 AM
From: Pakman2000  Read Replies (1) of 1510
 
Schering-Plough and Immune Response in Agreement to DevelopHepatitis Gene Therapy Products

MADISON, N.J., and CARLSBAD, Calif., July 9 /PRNewswire/ -- Schering- Plough Corporation (NYSE: SGP) and The Immune Response Corporation (Nasdaq: IMNR) today announced a research collaboration and option agreement to combine Immune Response's proprietary GeneDrug(TM) gene delivery technology with the interferon alfa-2b gene and other Schering-Plough proprietary genes to develop gene therapy products for the treatment of hepatitis B and C, and other diseases.

Under terms of the agreement, Schering-Plough may obtain rights to existing and future gene therapy technology developed by Immune Response in conjunction with type-1 interferon genes. Under terms of the initial preclinical research agreement, The Immune Response Corporation could receive approximately $5 million in initial fees, reimbursement expenses and technical milestone payments related to the delivery of the interferon alfa-2b gene for the treatment of hepatitis B and C.

As part of the agreement, Schering-Plough has the option to license Immune Response's gene delivery system for additional proprietary Schering-Plough genes. If Schering-Plough exercises its option to utilize Immune Response's delivery system for additional proprietary genes, total payments to Immune Response could exceed $75 million in additional licensing fees and milestone payments. The agreement also provides for Schering-Plough to pay royalties on future product sales.
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