AUCKLAND, New Zealand and SEATTLE, Feb. 6 /PRNewswire/ -- 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 that 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, Corixa Corporation, SR Pharma, and Jurox Pty Ltd.
The Plant division has research collaborations with ArborGen, Wrightson,
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 http://www.genesis.co.nz.
About Immunex
Immunex Corporation is a leading biopharmaceutical company dedicated to
improving lives through immune system science innovation.
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.
SOURCE Immunex Corporation, Genesis Research and Development
Corporation
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Related links:
http://www.immunex.com
Company News On-Call:
http://www.prnewswire.com/gh/cnoc/comp/434644.html
CONTACT:
Dr. Jim Watson, Chief Executive of Genesis
Research and Development Corporation Limited, +64 9 373 5600; or
Allan Botica of Botica Conroy and Associates, +64 9 303 3862, or
+64 21 400 500, or allanb@bca.co.nz; or Kris Greco, Manager of
Corporate Communications, Immunex Corporation, +1-206-470-4871,
or grecok@immunex.com
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