Chiron Grants Nonexclusive HCV License to Vertex
08 November 2003 - 11:15AM
PR Newswire (US)
Chiron Grants Nonexclusive HCV License to Vertex EMERYVILLE,
Calif., Nov. 7 /PRNewswire-FirstCall/ -- Chiron Corporation today
announced that it has granted a nonexclusive license to Vertex
Pharmaceuticals for the research, development and commercialization
of therapeutics against certain hepatitis C virus (HCV) drug
targets. In addition, Chiron was granted limited rights to review
Vertex's compound VX-950, a potential treatment for HCV infection,
for potential licensing. The financial terms and other details of
the license were not disclosed. "As this agreement illustrates,
Chiron is committed to making its technology for hepatitis C widely
available to companies researching new therapies for this disease,"
said William G. Green, Esq., Chiron general counsel. "We are
continuing to work on addressing this major medical need by
licensing our technology to other companies and by pursuing our own
research into agents to prevent and treat hepatitis C." As part of
the licensing agreement, Chiron and Vertex have settled a patent
infringement suit that Chiron brought against Vertex in 1998. The
suit claimed that Vertex violated several patents related to
Chiron's hepatitis C technology. 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 nonexclusive
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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