Chiron Grants Nonexclusive HCV License to Pfizer
29 October 2003 - 12:30AM
PR Newswire (US)
Chiron Grants Nonexclusive HCV License to Pfizer EMERYVILLE,
Calif., Oct. 28 /PRNewswire-FirstCall/ -- Chiron Corporation today
announced that it has granted a nonexclusive license to Pfizer Inc.
for the research, development and commercialization of therapeutics
against certain hepatitis C virus (HCV) drug targets. The financial
terms and other details of the license were not disclosed.
"Chiron's pioneering work in the field of HCV and its ongoing
commitment to research have had a tremendous impact on improving
human health worldwide," said William G. Green, Esq., Chiron
general counsel. "We are extending that impact by strategically
licensing our HCV intellectual property to aid the effort to find
therapies for hepatitis C and at the same time continuing our own
work on therapeutic agents and screening technologies to treat,
diagnose and prevent this serious disease." As part of the
licensing agreement, Chiron and Pfizer have settled litigation
involving Agouron, a division of Pfizer. Chiron had brought a
patent infringement suit against Agouron in 1998, claiming the
company violated several patents related to Chiron's hepatitis C
technology. Under the terms of the current agreement with Pfizer,
Chiron has agreed to withdraw the lawsuit against Agouron. About
Hepatitis C In 1987, Chiron scientists Michael Houghton, Ph.D.;
Qui-Lim Choo, Ph.D.; and George Kuo, Ph.D., cloned and first
identified HCV as the cause of transfusion-related non-A, non-B
hepatitis. This breakthrough marked the first time a virus was
cloned before it had been grown in tissue culture or otherwise
isolated. The Chiron scientists received the prestigious Lasker
Award in recognition of this discovery. Since the initial work,
Chiron has been granted more than 100 HCV-related patents in over
20 countries, including patents directed to hepatitis C
polypeptides encoded throughout the genomes of HCV. Such
polypeptides can be used in a variety of medical applications,
including blood screening, clinical diagnosis, vaccines and as
therapeutic targets for drug screening. A number of therapeutic
companies have been granted non-exclusive licenses to Chiron's HCV
technology for drug screening purposes, including Bristol-Myers
Squibb, GlaxoSmithKline, Japan Tobacco Inc. and Gilead. About
Chiron Chiron Corporation, headquartered in Emeryville, California,
is a global pharmaceutical company that leverages a diverse
business model to develop and commercialize high-value products
that make a difference in people's lives. The company has a
strategic focus on cancer and infectious disease. Chiron applies
its advanced understanding of the biology of cancer and infectious
disease to develop products from its platforms in proteins, small
molecules and vaccines. The company commercializes its products
through three business units: BioPharmaceuticals, Vaccines and
Blood Testing. For more information about Chiron, visit the
company's website at http://www.chiron.com/. This news release
contains forward-looking statements regarding royalty revenue and
the possible grant of additional licenses that involve risks and
uncertainties and are subject to change. A full discussion of the
company's operations and financial condition, including factors
that may affect its business and future prospects, is contained in
documents the company has filed with the SEC, including the form
10-Q for the quarter ended June 30, 2003, and the form 10-K for the
year ended December 31, 2002, and will be contained in all
subsequent periodic filings made with the SEC. Consistent with SEC
Regulation FD, we do not undertake an obligation to update the
forward-looking information we are giving today. DATASOURCE: Chiron
Corporation CONTACT: Chiron Corporate Communications & Investor
Relations, Media: +1-510-923-6500, or Investors: +1-510-923-2300
Web site: http://www.chiron.com/
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