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21 November 2004
Auckland, New Zealand, 22 November 2004 – Genesis Research and Development Corporation (NZSX/ASX:GEN) today announced that its UK partner, SR Pharma, has assessed the results of its 166 patient trial of SRP299 in moderate to severe atopic dermatitis in children and concluded that SRP299, in the dosage levels studied, has no efficacy of clinical significance in this particular indication. SR Pharma has decided that it should not invest further shareholder funds in taking the product forward in this indication. Genesis is conducting a separate Phase II trial of AVAC™, which it developed in Auckland. The trial is fully enrolled and the last patient is due to complete the trial in early December. An initial analysis of top line results is expected in late December and will be announced to shareholders when it is available. About atopic diseases Atopic diseases comprise atopic eczema, asthma and allergic rhinitis. An atopic individual is likely to experience symptoms of one or more of these conditions from an early age and this may persist for lengthy periods during his or her lifetime. Importantly, the prevalence of atopic disease in the western world has more than doubled over the past 30 years. It has been postulated that this increase in prevalence is causally related to a marked reduction in the incidence of infectious diseases experienced in these communities over that period. About Genesis Founded in 1994, Genesis is a New Zealand-based biotechnology company. It has built a broad genomic platform and has multiple product candidates in development, targeting immune disorders and cancer. These are backed by an extensive patent portfolio. Collaborations are maintained with Amgen Inc. (Nasdaq:AMGN), Corixa Corporation (Nasdaq:CRXA), SR Pharma plc (AIM:SPA), Jurox Pty Ltd, and AgResearch. AgriGenesis Biosciences Ltd is a wholly owned subsidiary of Genesis that is focused on using key plant cell signalling genes – novel hormones and transcription factors – to control commercial traits including growth rates and wood fibre quality in trees, nutritional content of forage grasses, flowering control, and cold tolerance. It has developed comprehensive plant EST databases including the world’s largest EST database for commercial forestry species. It has commercial collaborations with ArborGen LLC, Wrightson (NZX: WRI), HortResearch, and Landcare Research. For more information, please visit www.genesis.co.nz Media contacts: Dr J Watson, Chief Executive, Genesis Research and Development Corporation Limited, +64 9 373 5600 Allan Botica, Botica Butler Raudon, +64 9 303 3862, +64 21 400 500, allanb@botica.co.nz |