|
07 February 2002
AUCKLAND and SEATTLE, February 7th, 2002 — Genesis Research and Development Corporation Limited (NZSE/ASX: GEN) and Immunex Corporation (NASDAQ: IMNX) today announced the signing of a 3-year agreement governing joint research and development on selected proprietary molecules. The agreement also details molecular biology and other research services that the companies will provide to each other. “This agreement allows the two companies to collaborate on specific drug candidates and provides Genesis with the opportunity to partner with a recognized expert in the drug development arena,” said Jim Watson, Ph.D., Chief Executive of Genesis. “Both companies have identified promising drug candidates for commercial development,” said Watson. “Immunex and Genesis have a longstanding relationship and this agreement will permit rapid progress on preclinical research with selected molecules,” said Doug Williams, Ph.D., Immunex Executive Vice President and Chief Technology Officer. “Our two companies share a common commitment to developing drugs for immune system disorders. The unique databases developed by Genesis for Immunex provide a range of interesting opportunities for our drug development programs which complement Genesis’ genomics capability,” Williams added. About Genesis Founded in 1994, Genesis is a New Zealand-based biotechnology company committed to the building of a broad genomic platform for the development of innovative products in health and plant biotechnology. Genesis partners with industry leaders to develop products which have global market potential through the mining of its extensive microbe, plant and mammalian EST databases. The Health Division has three programmes in human clinical development for the treatment of psoriasis, atopic dermatitis (eczema) and asthma, with additional programmes for cancer and other indications in pre-clinical development. The patented BioStore solutions for storage of tissues and living cells are also in pre-clinical development. Collaborations are maintained with Immunex Corporation (NASDAQ: IMNX), Corixa Corporation (NASDAQ: CRXA), SR Pharma (LSE: SPA), and Jurox Pty Ltd. The Plant division has research collaborations with ArborGen, Wrightson (NZSE: WRI), HortResearch, AgResearch and Landcare. Genesis is also undertaking significant unpartnered research programmes in novel plant hormones. The company has an extensive health and plant patent portfolio. For more information, please visit www.genesis.co.nz About Immunex Immunex Corporation is a leading biopharmaceutical company dedicated to improving lives through immune system science innovation. Media Contacts Dr. Jim Watson, Chief Executive, Genesis Research and Development Corporation Limited, +64 9 373 5600 Allan Botica, Botica Conroy and Associates, +64 9 303 3862, +64 21 400 500, (allanb@bca.co.nz) Kris Greco, Manager of Corporate Communications, Immunex Corporation, 206.470-4871 (grecok@immunex.com). Forward Looking Statements Note: Except for the historical information contained herein, this news release contains forward-looking statements that involve substantial risks and uncertainties. Among the factors that could cause actual results or timelines to differ materially are risks associated with research and clinical development, regulatory approvals, our supply capabilities and reliance on third-party manufacturers, product commercialization, competition, litigation and other risk factors listed from time to time in reports filed by Immunex with the SEC, including but not limited to risks described under the caption “Important Factors That May Affect Our Business, Our Results of Operations and Our Stock Price” within the most recently filed Immunex Form 10-Q. The forward-looking statements contained in this news release represent judgements as of the date of this release. Immunex and Genesis undertake no obligation to publicly update any forward-looking statements. |