PROTEOME SCIENCES plc
PRESS RELEASE
Intronn Inc.
21 September 2007. Proteome Sciences plc ("Proteome Sciences") today announces
that VIRxSYS Corporation has acquired the core technology and assets of Intronn
Inc. (a company in which Proteome Sciences retains a 43 percent shareholding)
in exchange for the issuance of preference stock in VIRxSYS.
VIRxSYS is a private US biotechnology company founded in 1998 developing gene
therapies for HIV and genetic disorders using a lentiviral vector delivery
platform. VIRxSYS's initial focus was directed towards HIV and genetic
diseases. Intronn brings advanced pre-clinical programmes in haemophilia and
dyslipidemia that integrate extremely well and should significantly accelerate
the programmes recently established by VIRxSYS in the same areas and with the
ability to use SMaRTTM across a broad range of other disease applications.
VIRxSYS lead application, VRX496 (a CD4 T cell treatment against HIV),
successfully completed Phase I trials in November 2006 and has now moved on to
Phase II trials. VRX496 continues to be the only lentiviral vector currently
administered in human ethical trials approved by the US Food & Drug
Administration. Both companies recognise the considerable synergy between the
two technologies, with SMaRTTM providing a strong pipeline of RNA products
through the VIRxSYS lentiviral vector delivery platform.
By combining the two technologies in an all stock transaction, both companies
will participate directly from the considerable upside potential of the
combined platforms and remove duplication of costs and effort. Financial terms
have not been disclosed.
Proteome Sciences will keep shareholders appraised of significant developments
at VIRxSYS, in particular, news relating to the Phase II clinical trials.
Further details can be found in the press release at www.virxsys.com.
Ends
Proteome Sciences plc
Christopher Pearce, Chief Executive Officer James Malthouse, Finance Director
Email: christopher.pearce@proteomics.com Email: james.malthouse@proteomics.com
Tel: +44 (0)1932 865065
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