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

To: Scott H. Davis who wrote (2380)	11/17/1998 8:53:00 AM
From: jopawa	Read Replies (1) \| Respond to of 4676

Scott, How are you? Here's the text for those who don't want the link. John Monday November 16, 5:45 am Eastern Time Company Press Release SOURCE: Isis Pharmaceuticals Isis Sublicences PNA Technology Patent to Pantheco A/S to Develop Anti-Infective Agents CARLSBAD, Calif., Nov. 16 /PRNewswire/ -- Isis Pharmaceuticals (Nasdaq: ISIP - news) today announced that it has sublicensed to Pantheco A/S (Pantheco), a Danish biotechnology company, its Peptide Nucleic Acid (PNA) technology for the creation of anti-infective drugs. Isis, as the exclusive licensee, will retain the rights for all other areas of human therapeutics. The therapeutic rights to use this technology were licensed to Isis in 1992 by its inventors, Ole Buchardt, Dr. Rolf Berg, Dr. Michael Egholm and Peter Nielsen at the University of Copenhagen. PNA represents an exciting new generation of oligonucleotide mimics with the potential to create more potent antisense drugs. In PNA's the sugar and phosphate linkages are replaced by a biologically stable peptide linkage. The neutral linkage of the PNA's can provide PNA-based antisense drugs with attractive pharmacological properties such as a higher binding affinity, increased biostability, and a longer duration of action. As a result, PNA-based antisense drugs may be able to be dosed less frequently. Isis is currently researching this technology to develop its third generation antisense compounds targeted at a variety of inflammatory conditions and cancer. As part of the transaction, Isis will receive a 24.9% equity position in Pantheco A/S, which expects to obtain 92 million DKK ($14.5 million U.S.) from Danish venture capital investors including LD Pensions, Dansk Erhvervsinvestering A/S, and BankInvest and from the Danish Growth Fund, through a government sponsored risk loan to pursue PNA technology. ''We are extremely pleased to be able to participate with Pantheco in the areas of anti-infective research,'' said B. Lynne Parshall, Executive Vice President, Isis Pharmaceuticals. ''We believe that PNA technology has exciting potential for making improved antisense drugs.'' ''PNA may be a breakthrough in the development of future anti-infective drugs for the treatment of various bacterial infections and further validate the promising antisense technology field,'' said Dr. Anker Lundemose, Chief Executive Officer, Pantheco A/S. 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: Vitravene™ (fomivirsen), to treat CMV-induced retinitis in AIDS patients, has been approved for marketing by the FDA and is currently undergoing regulatory review in Europe; 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 is in Phase II trials as a treatment for cancer; ISIS 5132 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. This press release contains forward-looking statements concerning sublicensing agreement between Isis and Pantheco A/S. 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 are described in additional detail in Isis' Annual Report on Form 10-K for the year ended December 31, 1997 which is on file with the U.S. Securities Exchange Commission, copies of which are available from the company. SOURCE: Isis Pharmaceuticals