NAPA, Calif., Dec. 15 /PRNewswire-FirstCall/ -- Senetek PLC , www.senetekplc.com, a healthcare technologies company focused on developing and co-marketing products for anti-aging markets worldwide, today announced the signing of an amendment to its agreement with the Czech Republic Institute of Experimental Botany, granting Senetek the right to receive exclusive global licenses, for all applications, to any cytokinin developed, in-licensed or otherwise acquired by the Institute and the right to co-exploit with the Institute any cytokinins that Senetek does not elect to in-license. Senetek also has a right of first refusal before the Institute can license any of its non-cytokinin compounds to any third party for cosmeceutical or anti-aging dermatological applications. The parties also agreed to co-fund the prosecution of four new global patent applications. Under the original agreement signed with the Institute in June 2003, Senetek’s license rights were limited to medical skincare applications of cytokinins internally developed by the Institute, and the parties agreed to co-fund a single pending Institute patent application.
The Institute (http://www.ueb.cas.cz/index_eng.htm) was created in 1962 from the Department of Plant Physiology and the Department of Phytopathology of the Institute of Biology of the Czechoslovak Academy of Sciences. In 1990, it was divided into two independent units, one of which became The Institute of Experimental Botany in Prague and Olomouc. The Institute is highly regarded in the fields of plant genetics, physiology and biotechnology, where its work has included investigation of plant DNA repair, hormonal and ecological control of plant growth and development, and the mechanisms of action of plant growth regulators. Senetek currently is evaluating or has in various stages of pre-clinical investigation some 13 cytokinin-like compounds sourced from the Institute, including two having different classifications than Senetek’s patented compounds, Kinetin and Zeatin.
Prof. Brian F. C. Clark, Senetek’s Chief Scientist, stated, “Senetek’s joint effort with the Institute over the past two years has already led to potentially important new compounds for our pipeline while supporting the ongoing basic research of the Institute in the very exciting fields of plant genetics, physiology and biotechnology. This new agreement reflects the effectiveness of this partnering and should significantly strengthen Senetek’s potential for discovering new safe and effective naturally occurring compounds with clinically demonstrable anti-ageing efficacy in human as well as plant cells.”
Senetek is a life sciences-driven product development and licensing company primarily focused on the high growth market for dermatological and skincare products primarily addressing photoaging and age-related skin conditions. Senetek’s patented compound Kinetin is a naturally occurring cytokinin that has proven effective in improving the appearance of aging skin with virtually none of the side effects associated with acid-based active ingredients. Senetek has licensed Kinetin to leading global and regional dermatological and skincare marketers including Valeant Pharmaceuticals International (formerly ICN), The Body Shop and Revlon. Senetek recently announced new agreements with Valeant Pharmaceuticals under which Valeant licensed Zeatin, a patented analogue of Kinetin, on an exclusive basis throughout the world. In 2004 Senetek licensed rights to its Invicorp erectile dysfunction treatment in Europe to Ardana Bioscience Ltd., which has options for additional world markets.
Senetek PLC Investor Relations Contact: 1-707-226-3900 ext.102 E-mail: Pknopick@eandecommunications.com Safe Harbor Statement
This news release contains statements that may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act. Forward-looking statements by their nature involve substantial uncertainty, and actual results may differ materially from those expressed in such statements. Important factors identified by the Company that it believes could result in such material differences are described in the Company’s Annual Report on Form 10-K for the year 2004. However, the Company necessarily can give no assurance that it has identified all of the factors that may result in any particular forward-looking statement materially differing from actual results, and the Company assumes no obligation to correct or update any forward-looking statements which may prove to be inaccurate, whether as a result of new information, future events or otherwise.
Senetek PLC
CONTACT: Senetek PLC Investor Relations, +1-707-226-3900, ext.102,Pknopick@eandecommunications.com
