4AZA Bioscience NV Announced Research Collaboration With Gilead Sciences (Foster City, CA)
LEUVEN, BELGIUM -- (MARKET WIRE) -- 11/30/2005 -- Leuven, Belgium, November 30, 2005 -- 4AZA Bioscience NV today announced that the company has entered into a licensing agreement with Gilead Sciences of Foster City, California to research and develop compounds for the potential treatment of hepatitis C virus (HCV) infection, a therapeutic area representing a significant unmet medical need. These compounds, discovered by 4AZA, will be screened and evaluated preclinically by Gilead. Under the terms of the agreement, 4AZA will grant to Gilead an exclusive, worldwide license for the research, development and commercialization of certain novel compounds for the potential prevention and treatment of HCV. Gilead will pay an upfront licensing fee and make an equity investment in 4AZA. 4AZA will also receive milestone payments based on the achievement of certain development and regulatory goals, should one or more compounds be advanced into clinical development, and a royalty of net sales of any marketed product resulting from the collaboration. Additionally, Gilead will provide funding to 4AZA to support research staff to synthesize new compounds that may have potential activity against HCV. 4AZA will retain rights to develop and commercialize certain compounds evaluated under the companies' agreement for other indications.