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Biotech / Medical : Valentis (VLTS) -- Ignore unavailable to you. Want to Upgrade?

To: SemiBull who wrote (71)	5/20/2002 7:14:35 PM
From: SemiBull	Read Replies (1) \| Respond to of 81

Valentis Licenses GeneSwitch(R) Gene Regulation Technology to Medigene A.G. BURLINGAME, Calif., May 20 /PRNewswire-FirstCall/ -- Valentis (Nasdaq: VLTS - News) today announced that it has granted a non-exclusive license to Medigene, AG (OTC Bulletin Board: MGDEF - News) for the Company's GeneSwitch® gene regulation technology. The non-exclusive license is for research purposes and involves an up-front payment and annual maintenance fees. This is the sixth such license Valentis has granted to major pharmaceutical or biotechnology companies since February 2001. Valentis maintains rights to clinical applications of the GeneSwitch® technology. The GeneSwitch® gene regulation system allows researchers to control the level and duration of selected genes in transgenic animals and cell cultures, aiding in the identification and characterization of a gene's function. "We believe the GeneSwitch® technology offers significant advantages in regulating genes in mammalian systems, aiding the target validation process," stated Johanna Holldack, Chief Operating Officer of Medigene. "Our evaluation of the GeneSwitch® technology indicates that it will allow Medigene to precisely control when and where genes are activated, adding another tool to our integrated technology platform for gene function and drug target discovery." "Licenses of the GeneSwitch® technology such as this to Medigene, continue to further validate the utility of the GeneSwitch system in controlling gene expression and assisting in the identification and functional characterization of selected genes," stated Gregory M. McKee, Valentis' Senior Director of Business Development. "As pharmaceutical and biologic product development companies drive to create value from the vast quantities of genomics data generated over the past several years, the GeneSwitch® system is becoming a valuable tool in target validation." The GeneSwitch® system is available to the research community through Invitrogen Corporation (Nasdaq: IVGN - News). Valentis also is currently developing the GeneSwitch® system as a component of its EpoSwitch(TM) GeneMedicine(TM) product to allow control of erythropoietin protein production from an injected gene by an orally administered drug. Further technical and licensing information on the GeneSwitch® technology can be found at geneswitch.com . Valentis is Converting Genomic Discoveries into Medicines(TM). The Company has three product platforms for the development of novel therapeutics: the GeneMedicine(TM), GeneSwitch® and OptiPEG(TM) platforms. The Del-1 GeneMedicine(TM) therapeutic is the lead product for the GeneMedicine(TM) platform of non-viral gene delivery technologies. Del-1 is an angiogenesis gene that is being developed for peripheral arterial disease and ischemic heart disease. The EpoSwitch(TM) therapeutic for anemia is the lead product for the GeneSwitch® platform. The EpoSwitch(TM) product is being developed to allow control of erythropoietin protein production from an injected gene by an orally administered drug. The OptiPEG(TM) platform, consisting of proprietary PEGylation technologies, potentially allows for improved dosing of biopharmaceuticals. OptiPEG(TM) is being developed through licensing to partners. Additional information is available at www.valentis.com. Statements in this press release that are not strictly historical are "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995. The words "believes," "expects," "intends," "anticipates," variations of such words, and similar expressions identify forward-looking statements, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could affect Valentis' actual results include the need for additional capital, the early stage of product development, uncertainties related to clinical trials, and uncertainties related to patent position. There can be no assurance that Valentis will be able to develop commercially viable gene-based therapeutics or PEGylated biopharmaceuticals, that any of the Company's programs will be partnered with pharmaceutical partners, that necessary regulatory approvals will be obtained, or that any clinical trial will be successful. Actual results may differ from those projected in forward-looking statements due to risks and uncertainties that exist in the company's operations and business environments. These are described more fully in the Valentis Annual Report on Form 10-K for the period ended June 30, 2001 and Quarterly Report on Form 10-Q for the period ended March 31, 2002, each as filed with the Securities and Exchange Commission. SOURCE: Valentis, Inc.