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Thread: new aggreement

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    Senior Member giambjj's Avatar
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    Senior Member Leo's Avatar
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    Thanks, Doc, BTW, Can you or anyone tell me a thought on how or even if this might have connection with the Genentech and them dropping that drug development in the earlier thread.
    Consirency hunting here.

    Human Genome Sciences Announces License Agreement With Genentech
    8/7/2003

    Source: Human Genome Sciences, Inc.

    Human Genome Sciences, Inc. announced today a license agreement with Genentech, Inc. under which Genentech has acquired exclusive, worldwide patent rights to develop and commercialize therapeutic biologic products for human use based on a human gene discovered by Human Genome Sciences that may have potential applications in immunology, oncology and neurology. Under the agreement, Genentech also has acquired non-exclusive, worldwide rights for the development and commercialization of diagnostic and small molecule products for human use based on the same gene.



    (Logo: http://www.newscom.com/cgi-bin/prnh/20010612/HGSLOGO )

    According to the terms of the agreement, Human Genome Sciences will receive an upfront payment and annual license maintenance fees. In addition, Human Genome Sciences is entitled to receive from Genentech clinical development milestone payments and royalties on annual net sales for therapeutic and diagnostic products successfully developed and commercialized.

    William A. Haseltine, Ph.D., Chairman and CEO, Human Genome Sciences, said, "We are pleased to enter into this agreement with Genentech. We also are pleased that our work may facilitate the discovery of drugs that may be used to treat serious diseases. The agreement with Genentech demonstrates our continuing ability to provide access to our technology to companies that are seeking to develop gene-based therapeutic and diagnostic products."

    For additional information on Human Genome Sciences, please visit our web site at http://www.hgsi.com/. Health professionals interested in clinical studies involving HGSI products are encouraged to inquire via the Contact Us section of the Human Genome Sciences web site, http://www.hgsi.com/products/request.html, or by calling us at (301) 610-5790, extension 3550.

    Human Genome Sciences is a company with the mission to treat and cure disease by bringing new gene-based drugs to patients.

    HGS and Human Genome Sciences are trademarks of Human Genome Sciences, Inc.

    This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements are based on Human Genome Sciences' current intent, belief and expectations. These statements are not guarantees of future performance and are subject to certain risks and uncertainties that are difficult to predict. Actual results may differ materially from these forward-looking statements because of the Company's unproven business model, its dependence on new technologies, the uncertainty and timing of clinical trials, the Company's ability to develop and commercialize products, its dependence on collaborators for services and revenue, its substantial indebtedness and lease obligations, its changing requirements and costs associated with planned facilities, intense competition, the uncertainty of patent and intellectual property protection, the Company's dependence on key management and key suppliers, the uncertainty of regulation of products, the impact of future alliances or transactions and other risks described in the Company's filings with the Securities and Exchange Commission. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of today's date. Human Genome Sciences undertakes no obligation to update or revise the information contained in this announcement whether as a result of new information, future events or circumstances or otherwise.

    CONTACT: William A. Haseltine, Ph.D., Chairman and CEO, +1-301-309-8504, Jerry Parrott Vice President, Corporate Communications, +1-301-315-2777, or Kate de Santis, Director, Investor Relations, +1-301-251-6003, all of Human Genome Sciences, Inc.

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