GMED granted broad gene switching patent, IMO buy up to 3.25:
"Wednesday March 10, 8:03 am Eastern Time
Company Press Release
GeneMedicine Announces Issuance of Broad U.S. Patent on GeneSwitch Technology
THE WOODLANDS, Texas--(BW HealthWire)--March 10, 1999-- GeneMedicine Inc. (Nasdaq:GMED - news) announced today the US Patent and Trademark Office (PTO) has issued US patent 5,874,534 titled, ''Mutated steroid hormone receptors, methods for their use and molecular switch for gene therapy.'' This patent, issued February 23, 1999, expands the coverage of GeneMedicine's GeneSwitch(TM) technology to any member of the steroid hormone family of receptors and was issued to Baylor College of Medicine of Houston, Texas (''Baylor''). GeneMedicine has an exclusive license to the GeneSwitch technology, originally developed in the laboratory of Dr. Bert W. O'Malley, M.D., chairman of the department of Cell Biology at Baylor, a founder of GeneMedicine and a member of its board of directors.
The original GeneSwitch patent (US 5,364,791) claimed the use of a progesterone receptor-based system and issued in 1994. The newly issued patent expands the scope of coverage to include estrogen, androgen, Vitamin D, retinoic acid, thyroid hormone, glucocorticoid hormone and other receptors generally referred to as steroid hormone receptors.
The GeneSwitch has been developed to provide precise control over the level and duration of expression of therapeutic genes when introduced into the body via gene therapy. Using the GeneSwitch, gene expression is turned on by administration of an orally bioavailable drug in a dose-dependent manner. GeneMedicine recently announced potential expanded applications of the GeneSwitch, which include viral and plasmid-based gene therapy, as well as functional genomic studies using transgenic animals.
''The ability to regulate gene therapy products once they are introduced into the patient by administration of an oral pill greatly expands the number of potential genes that can be exploited for therapeutic purposes,'' stated Jeff Nordstrom, Ph.D., head of the GeneSwitch program at GeneMedicine. ''The basic GeneSwitch technology allows us to create custom receptor/ligand pairs that can be used for both viral and plasmid-based gene therapy products. The ability to offer each of our pharmaceutical industry partners a custom switch should greatly increase the attractiveness of the system.'' In November 1998, GeneMedicine announced an expanded collaboration with Merck (NYSE:MRK - news) to evaluate the GeneSwitch technology using Merck's vector system for three therapeutic targets.
The full text of the patent can be found on the Internet at www.uspto.gov.
GeneMedicine is linking proprietary gene delivery and expression technology and genomics to create gene medicines that are intended to provide a new quality of pharmaceutical treatment that is not attainable through the use of small molecule drugs or protein-based therapeutic products. The Company's initial focus is on the development of gene medicines for treating certain cancers, neuromuscular disorders, cardiovascular diseases, and pulmonary diseases, as well as the development of genetic vaccines for treatment or prevention of infectious diseases. Gene medicines deliver instructions to targeted cells in the body to produce therapeutic proteins or desired immune responses. The Company's core technology includes lipid-, polymer-, and peptide-based gene delivery systems, each able to be applied to specific clinical targets, and gene expression systems to regulate the production of multiple genes. The GeneMedicine patent portfolio includes issued U.S. and European claims that broadly cover the use for gene therapy of any cationic lipid combined with DNA and administered by injection or inhalation, the most common routes of administration.
On October 26, 1998, GeneMedicine and Megabios Corp. (Nasdaq:MBIO - news) announced the signing of a definitive merger agreement. The merger, which is subject to the approval of shareholders of both companies and appropriate governmental agencies, is expected to close in the first calendar quarter of 1999.
Except for the historical information contained herein, this press release contains forward-looking statements. Actual results may differ materially. Factors that could cause or contribute to differences include continued scientific progress in its research and development programs, the costs involved in the filing, prosecuting and enforcing of patent claims, the scope and results of preclinical testing and clinical trials, the time and costs involved in obtaining regulatory approvals, competing technological developments, the cost of manufacturing and scale-up and effective commercialization activities and arrangements. These factors and others are more fully discussed in periodic reports filed with the Securities and Exchange Commission including the Company's Form 10-K for the year ended December 31, 1997."
Best wishes & regards,
Jake Blackmerlin
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