LA JOLLA, Calif., June 30 /PRNewswire/ -- Agouron Pharmaceuticals, Inc.
(Nasdaq: AGPH) today announced it has acquired rights to develop and
commercialize JE-2147, a novel HIV protease inhibitor discovered by Japan
Energy Corporation, Tokyo, Japan. Agouron plans to initiate clinical studies
of JE-2147, formerly known as KNI-764, in 1999.
Agouron will have exclusive rights to the development and
commercialization of JE-2147 in North America, Europe and many other
countries, while Japan Energy will supply compound for development and
maintain commercialization rights in Japan, Korea, and Taiwan. Under the
agreement with Agouron, Japan Energy will receive license fees of up to $26
million, including an initial $6 million license fee as well as additional
milestone payments. In addition, Agouron will pay Japan Energy royalties
based on sales of JE-2147.
"There is an urgent and growing need for a new HIV protease inhibitor
capable of acting on virus that has become resistant to currently available
compounds," said Peter Johnson, Agouron's president and chief executive
officer. "A comprehensive review of preclinical data convinced us that
JE-2147 has unique potential to meet this need."
Data presented at the 12th World AIDS Conference in Geneva this week by
Japan Energy scientists demonstrated that JE-2147 is fully active against a
battery of virus strains representing the predominant resistance mutations
produced by currently available protease inhibitors. JE-2147 also
demonstrated synergistic anti-viral activity in vitro when combined with
nelfinavir, indinavir, ritonavir, saquinavir, or amprenavir.
Agouron Pharmaceuticals, Inc. is an integrated pharmaceutical company
committed to the discovery, development, manufacturing, and marketing of
innovative therapeutic products engineered to inactivate proteins that play
key roles in cancer, AIDS, and other serious diseases.
Japan Energy Corporation, established in 1929, is an organization with
main businesses in petroleum resource development, oil refining and marketing,
optics and electronics, and pharmaceuticals and biotechnology.
This press release may contain forward-looking statements or predictions.
These statements represent Agouron's judgment as of this date and are subject
to risks and uncertainties (including those associated with regulatory
approvals and the impact of competitive products) that could cause the actual
results to differ materially. Important factors concerning these risks are
discussed in the Company's Form 10-K for the fiscal year ended June 30, 1997
currently on file with the Securities and Exchange Commission. Agouron
undertakes no obligation to publicly release the result of any revisions to
such forward-looking statements which may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
For more information on Agouron you may visit the Agouron Web Site at
http://www.agouron.com.
SOURCE Agouron Pharmaceuticals, Inc.
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CONTACT:
Investors: Donna Nichols, Vice President,
Head of Corporate Communications, 619-622-3009, or Media: Joy
Schmitt, Manager, Product Public Relations, 619-622-3220, both of
Agouron Pharmaceuticals, Inc.
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