FOSTER CITY, Calif.--(BUSINESS WIRE)--Jan. 28, 2004--Gilead Sciences, Inc. (Nasdaq:GILD - News) today announced that the company, for strategic reasons, is ending its licensing agreement with Emory University and the University of Georgia Research Foundation, Inc. for the development and commercialization of amdoxovir. Also known as DAPD, amdoxovir is an investigational guanosine nucleoside analogue currently in Phase II development for the treatment of HIV. Amdoxovir has also been tested in humans for the treatment of chronic hepatitis B infection and is currently in Phase II clinical trials under a U.S. IND. Gilead will meet its ongoing obligations with respect to existing clinical trials and is committed to cooperating with the universities during the transition of this technology to a new licensee.
In March 1996, Triangle Pharmaceuticals, Inc. entered into a licensing agreement with Emory University and the University of Georgia Research Foundation for worldwide rights to amdoxovir. In January 2003, Gilead acquired Triangle Pharmaceuticals. In accordance with the licensing agreement, Gilead will transfer toxicity, efficacy and other data including the IND to the universities.
"Gilead remains committed to developing novel compounds to fight HIV," said John C. Martin, PhD, President and CEO of Gilead Sciences. "We continue to focus resources on the development of other promising candidates in our pipeline, including the co-formulation of Viread® (tenofovir disoproxil fumarate) and Emtriva(TM) (emtricitabine) into a single fixed-dose combination tablet, and two investigational agents, GS 7340, an amidate prodrug of tenofovir, and GS 9005, a protease inhibitor."
"Amdoxovir has great potential for salvage therapy in HIV infected individuals," said Mary L. Severson, PhD, JD, Chief Technology Officer at Emory University. "Emory and the University of Georgia Research Foundation are committed to the continued development of this drug and the ongoing NIH-sponsored clinical trials ACTG 5118 and ACTG 5165."
Gilead Sciences is a biopharmaceutical company that discovers, develops and commercializes therapeutics to advance the care of patients suffering from life-threatening diseases worldwide. The company has seven marketed products and focuses its research and clinical programs on anti-infectives. Headquartered in Foster City, CA, Gilead has operations in the United States, Europe and Australia.
About Emory University
Emory University, located in Atlanta, Georgia, is a leading research university with one of the fastest-growing research enterprises in the nation. Emory is known for its highly recognized professional schools of medicine, public health, nursing, business, law, and theology as well as for its advanced research facilities and a rapid expansion of research support in the health sciences.
About the University of Georgia Research Foundation, Inc.
The University of Georgia Research Foundation, Inc. facilitates the transfer of technology developed at The University of Georgia (UGA) to commercial enterprises where the technology can be put to beneficial use. UGA, chartered in 1785, has outstanding programs in the humanities, law, business, veterinary medicine, journalism, ecology, genetics, food science, agriculture and horticulture.
This press release includes forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that are subject to risks, uncertainties and other factors. These risks, uncertainties and other factors, including the risk that data from clinical trials may not support regulatory approval of the fixed-dose combination or other investigational candidates, could cause actual results to differ materially from those referred to in the forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. These and other risks are described in detail in the Gilead Annual Report on Form 10-K for the year ended December 31, 2002 and in Gilead's Quarterly Reports on Form 10-Q, all of which are on file with the U.S. Securities and Exchange Commission. All forward-looking statements are based on information currently available to Gilead and Gilead assumes no obligation to update any such forward-looking statements.
Emtriva is a trademark and Viread is a registered trademark of Gilead Sciences, Inc.
For more information on Gilead, please call the Public Affairs Department at 1-800-GILEAD-5 (1-800-445-3235) or visit www.gilead.com.
Emory University Holly Korschun, 404-727-3990 or Gilead Sciences Susan Hubbard, 650-522-5715 (Investors) James Loduca, 650-522-5908 (Media)
Source: Gilead Sciences, Inc.