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Biotech / Medical : Ligand (LGND) Breakout! -- Ignore unavailable to you. Want to Upgrade?

To: Hippieslayer who wrote (22001)	6/9/1998 7:28:00 AM
From: tonyt	Respond to of 32384

Isis and Merck Establish Research Collaboration for Hepatitis C ======================================================== CARLSBAD, Calif., June 9 /PRNewswire/ -- Isis Pharmaceuticals, Inc. (NASDAQ:ISIP) announces the establishment of a multi-million dollar research collaboration with Merck & Co. to discover drug candidates to treat patients infected with the Hepatitis C virus (HCV). The three-year collaboration will provide Isis with significant annual research support plus a one-time technology access fee. In addition, Isis will receive milestone payments as compounds arising from the collaboration proceed through clinical development and royalties from product sales. As part of the collaboration, chemists from Isis and Merck will design, synthesize and evaluate novel small molecules which Merck will screen in its proprietary enzymatic assays for identifying HCV replication inhibitors. Merck has the right to commercialize drugs arising out of the collaboration and Isis will retain the rights to use the technology developed in the collaboration in its antisense program. "This new relationship with Merck is important," said Stanley Crooke, M.D., Ph.D., Chairman and CEO, Isis Pharmaceuticals. "Merck is the ideal partner for Isis in this area of novel therapeutics and the collaboration demonstrates Merck's confidence in our ability to work together in discovering drugs to more effectively treat Hepatitis C, a serious viral infection that affects millions of people worldwide. In addition, the funds generated from this collaboration provide Isis with significant resources to further research and development efforts." Hepatitis C is a potentially deadly disease that infects the liver and which can eventually cause liver cancer and death. Manifestations of the disease include jaundice, fatigue, nausea, muscle and joint pain, and abdominal pain. The incidence of Hepatitis C has reached epidemic proportions; today, it estimated that almost 4 million Americans are infected with Hepatitis C. Many people infected with the disease do not know they have been infected and do not develop symptoms for decades. Hepatitis C is spread most often through contact with tainted blood through intravenous drug use, blood transfusions, and organ transplantation. It is estimated that 8,000- 10,000 people die from Hepatitis C per year. This press release contains forward-looking statements concerning the collaboration between Isis Pharmaceuticals and Merck & Company. Such statements are subject to certain risks and uncertainties, particularly those inherent in the process of discovering, developing and commercializing drugs that are safe and effective for use as human therapeutics. Actual results could differ materially from those projected in this release. As a result, the reader is cautioned not to rely on these forward-looking statements. These and other risks concerning corporate collaborations are described in additional detail in Isis' Annual Report on Form 10-K for the year ended December 31, 1997 and in the Company's most recent quarterly report on Form 10-Q, which is on file with the U.S. Securities Exchange Commission, copies of which are available from the company. Isis Pharmaceuticals, based in northern San Diego County, is engaged in the discovery and development of novel human therapeutic compounds. Isis has six compounds in human clinical trials: fomivirsen, to treat CMV-induced retinitis in AIDS patients, has completed Phase III clinical trials and an NDA has been submitted to the FDA; ISIS 2302, an inhibitor of ICAM-1, is in a pivotal quality trial for Crohn's disease, Phase II clinical trials for renal transplant rejection, rheumatoid arthritis and ulcerative colitis, and is being explored as a topical administration for psoriasis and an aerosol administration for asthma; ISIS 3521/CGP64128A is in Phase II trials as a treatment for cancer; ISIS 5132/CGP69846A is in Phase II clinical trials as a treatment for cancer; ISIS 2503 is in Phase I trials as a treatment for cancer; and ISIS 13312 is in Phase I/II clinical trials for the treatment of CMV retinitis in AIDS patients. The company also has several additional compounds in preclinical development. Isis' broad medicinal chemistry and biology research programs support efforts in both antisense and small molecule drug discovery. SOURCE Isis Pharmaceuticals, Inc. -0- 06/09/98 /CONTACT: Jane Green, Senior Director, Investor Relations, of Isis Pharmaceuticals, 760-603-3880/ /Web site: isip.com