February
8, 1999
Genzyme Molecular Oncology Licenses Potent
Angiogenesis Inhibitor From Folkman Lab
February 8, 1999 /WiredBird at PSA Rising/ Genzyme Molecular Oncology
(Nasdaq: GZMO) announced today that it has licensed from Children痴
Hospital Medical Center in Boston, a potent angiogenesis inhibitor
protein for the treatment of cancer identified in the laboratory
of Judah Folkman, M.D., director of the Surgical Research Laboratories
at Children痴 Hospital. Preclinical data pertaining to the protein
and its antiangiogenic effects are not yet published.
Over the next year, Genzyme Molecular Oncology will conduct confirmatory,
preclinical studies of the protein and develop a manufacturing process
to produce the protein. If these efforts are successful, the company
anticipates beginning phase I clinical trials in humans in 2000.
In exchange for the exclusive, worldwide license, Genzyme Molecular
Oncology will pay Children痴 Hospital an up-front fee, make product
development milestone payments, and pay royalties on product sales.
"Genzyme is the appropriate licensee for this compound," commented
Donald P. Lombardi, director, technology transfer, Children痴 Hospital,
Boston. "Genzyme possesses the manufacturing and commercialization
expertise, the technical and financial resources, and the willingness
to make the needed strategic commitment to develop this compound."
Gail Maderis, president, Genzyme Molecular Oncology commented, "The
protein we have licensed from Children痴 Hospital is the lead candidate
in an exciting antiangiogenesis pipeline that includes proteins,
small molecule compounds, and gene therapies. We believe that we
can become a central player in this field by utilizing our broad
technology platforms to pursue multiple product approaches, by drawing
on the substantial scientific and product development resources
of Genzyme, and by continuing to foster a strong relationship with
Dr. Folkman and his colleagues."
Under a separate agreement, Michael S. O坦eilly, M.D., research
fellow at Children痴 Hospital will consult with the company on Genzyme
Molecular Oncology痴 antiangiogenesis program. Dr. O坦eilly is the
researcher who co-discovered the protein Genzyme Molecular Oncology
has licensed from Children痴 Hospital and is a highly regarded expert
in the field of angiogenesis research. His work includes the discovery
of two other angiogenesis inhibitors預ngiostatin and endostatin.
"Genzyme Molecular Oncology established a comprehensive antiangiogenesis
drug discovery program in 1998. It has assembled a product development
platform that includes integrated technologies, academic and commercial
collaborations, and access to the expertise of Genzyme Corporation
in clinical development, regulatory affairs, manufacturing, and
marketing.
Currently, Genzyme Molecular Oncology is developing an antiangiogenesis
compound portfolio that includes proteins, small molecules, and
gene therapies. The protein from Dr. Folkman痴 laboratory will be
the first of Genzyme Molecular Oncology痴 antiangiogenesis compounds
to move into clinical trials.
Genzyme Molecular Oncology is developing a new generation of cancer
products, focusing on cancer vaccines and angiogenesis inhibitors.
It has completed two phase I cancer vaccine trials in patients with
melanoma and plans to begin additional trials in melanoma, breast
cancer, and ovarian cancer in the next year. Genzyme Molecular Oncology
is developing novel cancer products through the integration of its
gene discovery, gene therapy, small-molecule drug discovery, protein
therapeutic and genetic diagnostic efforts.
A division of Genzyme Corporation, Genzyme Molecular Oncology has
its own common stock intended to reflect its economic value and
track its performance.
This press release contains forward-looking information regarding
the publishing of preclinical data pertaining to the protein and
its antiangiogenic properties, the timing of preclinical studies
and initiation of clinical trials of the protein. Actual results
may differ materially based on a number of factors, including the
publishing schedule of the journal as well as the ability of Genzyme
Molecular Oncology to complete preclinical and clinical development
of its products, and to manufacture sufficient quantities of the
protein to conduct clinical trials, and the content and timing of
decisions made by the U.S. Food and Drug Administration with respect
to such products.
SOURCE Genzyme
Molecular Oncology
Please call Genzyme's corporate communications department at 1-617-252-7570
for additional information.
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