Hybridon Licenses Key VEGF Patents to Alnylam for Treatment of Ocular Diseases with RNAi Therapeutics
03 Agosto 2004 - 5:15PM
PR Newswire (US)
Hybridon Licenses Key VEGF Patents to Alnylam for Treatment of
Ocular Diseases with RNAi Therapeutics CAMBRIDGE, Mass., August 3
/PRNewswire-FirstCall/ -- Alnylam Pharmaceuticals, Inc.
(NASDAQ:ALNY) and Hybridon, Inc. (AMEX:HBY) today announced that
they have entered into an agreement providing Alnylam with an
exclusive license to Hybridon's rights to target Vascular
Endothelial Growth Factor (VEGF) for ocular indications with RNA
interference molecules (RNAi). Hybridon has a series of patents and
patent applications relating to the therapeutic use of
oligonucleotides, including antisense and RNA interference
compounds, which inhibit the production of the protein VEGF. The
VEGF protein has been implicated in cancer and macular
degeneration. Hybridon received an upfront payment and is eligible
for future milestone payments and royalties. The licensing of this
intellectual property extends Alnylam's strength in consolidating
fundamental patents, technology and know-how for the development
and commercialization of RNAi therapeutics. At the same time, it
continues to leverage Hybridon's broad patent estate in the
oligonucleotide field by adding another partner with complementary
technology to the growing list of collaborators and licensees.
"This additional intellectual property will accelerate and
streamline our lead program, which we are pursuing in partnership
with Merck, to develop a novel RNAi therapeutic targeted to treat
age-related macular degeneration and other ocular diseases," said
Vincent Miles, Senior Vice President of Business Development at
Alnylam. "Adding this suite of patent rights to our current IP
portfolio advances our leadership in the development of RNAi ocular
therapeutics." "We are pleased to enter into this licensing
arrangement with Alnylam, to expand the use of our patent portfolio
with one of the leaders in RNAi therapeutics," said Sudhir Agrawal,
President and Chief Scientific Officer at Hybridon. "We view this
license as additional validation of the broad coverage of our
oligonucleotide patent portfolio and its applicability to the
rapidly growing field of RNA interference. Independently, Hybridon
continues to pursue the studies of antisense-based compounds
targeting VEGF for ocular diseases." About RNAi RNA interference,
or RNAi, is a naturally-occurring mechanism within cells for
selectively silencing and regulating specific genes that is
potentially the basis for a new class of therapeutic products.
Since many diseases are caused by the inappropriate activity of
specific genes, the ability to silence and regulate such genes
selectively through RNAi could provide a means to treat a wide
range of human diseases. The discovery of RNAi has been heralded by
many as a major breakthrough, and the journal Science named RNAi
the top scientific achievement of 2002 as well as one of the top
ten scientific advances of 2003. About Alnylam Alnylam is a
biopharmaceutical company seeking to develop and commercialize
novel therapeutics based on RNA interference, or RNAi. Growing from
its foundation as the world's first company focused on RNAi
therapeutics, the company's leadership in the field of RNAi is
supported by its preeminent founders and advisors and its strengths
in fundamental patents, technology, and know-how that underlie the
commercialization of RNAi therapeutics. Alnylam is developing a
pipeline of RNAi products using Direct RNAi(TM) to treat ocular,
central nervous system, and respiratory diseases and Systemic
RNAi(TM) to treat a broad range of diseases, including oncologic,
metabolic, and autoimmune diseases. The company's global
headquarters are in Cambridge, Massachusetts. For additional
information, please visit http://www.alnylam.com/. About Hybridon
Hybridon, Inc. is a leader in the discovery and development of
novel therapeutics based on synthetic DNA. The Company's focus is
to develop therapeutics independently and with partners based on
two proprietary technology platforms: i) Synthetic immunomodulatory
oligonucleotide (IMOTM) motifs that act to modulate responses of
the immune system; and ii) Antisense technology that uses synthetic
DNA to block the production of disease-causing proteins at the
cellular level. Licensees of Hybridon's technology include Isis
Pharmaceuticals, Inc., MethylGene, Inc., Aegera Therapeutics, Inc.,
Micrologix Biotech, Inc., Epigenesis Pharmaceuticals, Inc., and The
Immune Response Corporation. The company is conducting clinical
trials in oncology patients with HYB2055 (IMOxine(TM)), a
2nd-generation IMO, and with GEM(R)231 (a 2nd- generation antisense
oligonucleotide targeted to protein kinase A) in combination with
irinotecan. Alnylam Forward-Looking Statement Various statements in
this release concerning our future expectations, plans, prospects
and future operating results constitute forward-looking statements
for the purposes of the safe harbor provisions under The Private
Securities Litigation Reform Act of 1995. Actual results may differ
materially from those indicated by these forward-looking statements
as a result of various important factors, including risks related
to: our approach to discover and develop novel drugs, which is
unproven and may never lead to marketable products; our ability to
obtain additional funding to support our business activities; our
dependence on third parties for development, manufacture,
marketing, sales and distribution of our products; the successful
development of products, all of which are in early stages of
development; obtaining regulatory approval for products;
competition from others using technology similar to ours and others
developing products for similar uses; obtaining, maintaining and
protecting intellectual property utilized by our products; and our
short operating history; as well as those risks more fully
discussed in the "Risk Factors" section of the final prospectus
relating to our initial public offering on file with the Securities
and Exchange Commission. In addition, any forward-looking
statements represent our views only as of today and should not be
relied upon as representing its views as of any subsequent date. We
do not assume any obligation to update any forward- looking
statements. Hybridon Forward-Looking Statement This press release
contains forward-looking statements concerning Hybridon that
involve a number of risks and uncertainties. For this purpose, any
statements contained herein that are not statements of historical
fact may be deemed to be forward-looking statements. Without
limiting the foregoing, the words, "believes," "anticipates,"
"plans," "expects," "estimates," "intends," "should," "could,"
"will," "may," and similar expressions are intended to identify
forward-looking statements. There are a number of important factors
that could cause Hybridon's actual results to differ materially
from those indicated by such forward-looking statements, including
risks as to whether results obtained in preclinical studies or
early clinical trials will be indicative of results obtained in
future preclinical studies or clinical trials, or warrant further
clinical trials and product development; whether products based on
Hybridon's technology will advance through the clinical trial
process and receive approval from the United States Food and Drug
Administration or equivalent foreign regulatory agencies; whether,
if such products receive approval, they will be successfully
distributed and marketed; whether the patents and patent
applications owned or licensed by Hybridon will protect the
Company's technology and prevent others from infringing it; whether
Hybridon's cash resources will be sufficient to fund product
development; and such other important factors as are set forth
under the caption "Risk Factors" in Hybridon's Quarterly Report on
Form 10-Q filed on May 17, 2004, which important factors are
incorporated herein by reference. Hybridon disclaims any intention
or obligation to update any forward-looking statements. Contacts:
Alnylam Pharmaceuticals, Inc. Investor Contact: Lilian Stern Stern
Investor Relations, Inc. 212-362-1200 Media Contact: Kathryn Morris
KMorrisPR 845-635-9828 Hybridon, Inc. Investor Contact: Euro RSCG
Life NRP Brian Ritchie 212-845-4269 Media Contact: Robert
Stanislaro Euro RSCG Life NRP 212-845-4268 DATASOURCE: Alnylam
Pharmaceuticals, Inc. CONTACT: For Alnylam Pharmaceuticals, Inc.,
Investor Contact: Lilian Stern of Stern Investor Relations, Inc.,
+1-212-362-1200; or Media Contact: Kathryn Morris of KMorrisPR,
+1-845-635-9828; or for Hybridon, Inc., Investor Contact: Brian
Ritchie, +1-212-845-4269; or Media Contact: Robert Stanislaro
+1-212-845-4268, both of Euro RSCG Life NRP Web site:
http://www.alnylam.com/
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