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Biotech / Medical : RNAi -- Ignore unavailable to you. Want to Upgrade?

To: Thomas who wrote (38)	6/5/2003 3:32:53 AM
From: Thomas	Respond to of 671

Benitec/Promega announcement from April: Cheers, Thomas benitec.com.au www.benitec.com.au Benitec Ltd Promega Corporation Suite 4, 242 Hawken Drive 2800 Woods Hollow Road St Lucia QLD 4067 Madison, WI 53711 +61 7 3217 8540 (Voice) (608) 274-4330 (Voice) +61 7 3217 7540 (Fax) (608) 277-2601 (Fax) www.promega.com NEWS For Immediate Release April 8, 2003 Benitec and Promega Announce Worldwide Exclusive License for RNAi Products QUEENSLAND, Australia and MADISON, WISCONSIN, USA - (April 8, 2003) Benitec Ltd (ASX: BLT) and Promega Corporation announced today that Promega has acquired a worldwide exclusive license to develop, sell and distribute DNA-delivered RNAi (ddRNAi) products based upon Benitec’s proprietary technology. In consideration for the exclusive license, Benitec will receive a license fee and future royalties based upon sales and issuance of its worldwide patent portfolio. Benitec will also transfer know-how of its ddRNAi products currently used in its own research and commercial development activities. The drug industry is rapidly recognizing the superiority of Benitec’s ddRNAi technology for human applications over siRNAi and is expected to result in an increasing global demand for related materials and products. John McKinley, Benitec Ltd. Executive Chairman and CEO, said “The license to Benitec’s dominant patents for switching off the function of selected genes provides Promega with a powerful platform to build the leadership position in the supply of ddRNAi materials to the commercial biotechnology industry and research community. Promega is uniquely placed to partner Benitec with its experience of practical implementation of biotechnology discoveries. It will accelerate and expand the development of ddRNAi constructs as routine tools, while its extensive global market penetration will ensure widespread uptake and use of this powerful technology in the drug industry. This first license will provide the tools and framework to support Benitec’s future commercial licensing deals.” William A. Linton, Promega Corporation President and CEO, said “RNA interference technologies (RNAi) have the potential to facilitate our understanding of biological processes that can lead to exciting new drug discovery opportunities, the development of new approaches for human therapeutics and many basic research applications. The license agreement between Promega and Benitec further enhances our commitment to this exciting and rapidly evolving area of life science.” www.benitec.com.au Benitec Ltd Promega Corporation Suite 4, 242 Hawken Drive 2800 Woods Hollow Road St Lucia QLD 4067 Madison, WI 53711 +61 7 3217 8540 (Voice) (608) 274-4330 (Voice) +61 7 3217 7540 (Fax) (608) 277-2601 (Fax) www.promega.com Promega Corporation is a global leader in providing innovative solutions for the life sciences industry. The company's 1200 products enable scientists worldwide to advance knowledge in genomics, proteomics, cellular analysis, drug discovery, molecular diagnostics, and human identification. Founded in 1978, the company is headquartered in Madison, Wisconsin USA with branches in 9 countries and 54 distributors located throughout the world. Annual sales exceed $130 million. For more information about Promega, visit www.promega.com Benitec Limited, based in Queensland Australia, has key Intellectual Property in the field of gene silencing using DNA constructs to trigger RNA interference. The Company was the first to demonstrate RNA interference, a universal gene silencing mechanism, in mammalian and human cells. This natural mechanism is now recognized worldwide as the simplest and most precise method for silencing any specific gene. The technology is immediately applicable to and promises to revolutionize the field of functional genomics- the determination of gene function. Benitec's technology can also be applied to the treatment of major human diseases such as cancers, autoimmune disorders and viral infections through the shutting down of diseasecausative genes. Other applications include plant improvement and the breeding of viral resistant livestock. Benitec offers customers licenses to undertake research and development on its expanding technology platform and tools to deliver the technology's capability. See www.benitec.com.au for more information. CONTACT For Benitec: For Promega: John McKinley Roger Larrick Chairman & CEO Director, Marketing Communications +44 7767 367 193 or +61 7 3217 8540 + 608 277 2519 jmckinley@benitec.com.au RLarrick@Promega.com Ken C. Reed, Ph.D. Director Research and Technology +61 7 3217 8540 or +61 7 407 250 245 kreed@benitec.com.au This press release contains forward-looking statements which reflect Benitec’s current expectation regarding future events. Forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein and depend on a number of factors including the success of Benitec’s research strategy, the application of the discoveries made therein, the successful and timely completion of clinical studies and the uncertainties related to the regulatory process.