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Biotech / Medical : Vertex Pharmaceuticals (VRTX) -- Ignore unavailable to you. Want to Upgrade?

To: Miljenko Zuanic who wrote (312)	9/17/1999 11:03:00 AM
From: LLCF	Respond to of 1169

Mind if I post this whole thing??? YHOO news goes away too quickly for my liking: Company Press Release SOURCE: Vertex Pharmaceuticals Incorporated Vertex Announces Start of Phase II Clinical Trial of HMR 3480/VX-740 for Treatment of Rheumatoid Arthritis CAMBRIDGE, Mass., Sept. 16 /PRNewswire/ -- Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX - news) announced today that its drug development partner Hoechst Marion Roussel has begun a Phase II clinical trial with HMR 3480/VX- 740 in patients with rheumatoid arthritis. HMR 3480/VX-740 is an orally administered inhibitor of interleukin-1 beta converting enzyme (ICE), an important enzyme regulating inflammatory processes. Vertex will receive a $5 million milestone payment from Hoechst Marion Roussel, the pharmaceutical company of Hoechst (NYSE: HOE - news) as part of an expanded development and commercialization agreement signed in early September 1999. ICE regulates the production of interleukin-1 beta (IL-(), IL-18, and interferon-gamma, key proinflammatory cytokines that initiate and sustain the progression of inflammation. Inhibiting ICE may be a useful strategy for curtailing damaging inflammatory processes common to a number of acute and chronic conditions. ''This clinical trial will provide important information about the prospects for treating rheumatoid arthritis through this novel mechanism of action,'' commented Dr. Vicki L. Sato, Senior Vice President of Research and Development and Chief Scientific Officer of Vertex. ''Cytokine regulation is emerging as a powerful approach to attenuating inflammation, and development of oral drugs that target cytokine activity has the potential to provide a major breakthrough in the treatment of inflammatory diseases such as rheumatoid arthritis.'' ''HMR 3480/VX-740 is a compelling example of the ability of Vertex's integrated approach to produce promising orally administerable drug candidates against challenging drug discovery targets,'' said Dr. Joshua Boger, Chairman, President, and CEO of Vertex. ''Vertex and Hoechst Marion Roussel were the first to designate a lead drug development candidate in this area, and our development partner Hoechst Marion Roussel has become the first to initiate a clinical trial of an ICE inhibitor in patients with inflammatory disease. We look forward to sustaining this leadership position through commercialization.'' Rheumatoid arthritis afflicts more than six million patients worldwide. A major goal of drug development for rheumatoid arthritis is a therapy that, in addition to relieving arthritic symptoms, can slow or halt progression of disease in a convenient oral dosing regimen. Vertex and Hoechst Marion Roussel began collaborating in 1993 to discover and develop orally available inhibitors of ICE. Their intensive design efforts were based on the three-dimensional atomic structure of ICE, solved by Vertex researchers in 1994. As the result of an extensive, jointly conducted synthesis and research program, HMR 3480/VX-740 was selected as a development candidate in 1996. A Phase I clinical trial of HMR 3480/VX-740, completed by Hoechst Marion Roussel earlier in 1999, showed that the compound was well- tolerated in humans in a range of single doses. Phase II development in at least one additional indication is anticipated to begin in 2000. Vertex Pharmaceuticals Incorporated is engaged in the discovery, development and commercialization of novel, small molecule pharmaceuticals for the treatment of diseases for which there are currently limited or no effective treatments. The Company is a leader in the use of structure-based drug design, an approach to drug discovery that integrates advanced biology, biophysics, chemistry and information technologies. The Company is concentrating on the discovery and development of drugs for the treatment of viral diseases, multidrug resistance in cancer, autoimmune and inflammatory diseases, and neurodegenerative diseases. There can be no assurance that clinical trials will continue, that initial results will be predictive of any future results, that drugs under development by Vertex or its partners will receive marketing approval from the U.S. Food and Drug Administration or other regulatory authorities, or that drugs, if any, which receive such approval will be marketed successfully. There can be no assurance that Vertex will continue to receive payments from Hoechst Marion Roussel. Investors are also directed to consider other risks and uncertainties discussed in Vertex documents filed with the Securities and Exchange Commission. Additional Contacts: Michael Partridge, Manager, Product Communications, 617-577-6108 Vertex's press releases are also available by fax-on-demand at (800) 758- 5804 Code 938395.