| HUMAN GENOME SCIENCES RECEIVES MILESTONE PAYMENT FROM GLAXOSMITHKLINE FOR INITIATION OF CLINICAL TRIALS OF GENOMICS-DERIVED DRUG FOR CARDIOVASCULAR DISEASE | |
|
|
|
- Small-Molecule Drug Arising from the Human Genome Sciences-GlaxoSmithKline Agreement to Enter Clinical Trials -
ROCKVILLE, Maryland – March 30, 2004 – Human Genome Sciences, Inc. (Nasdaq: HGSI) announced today that it has received a clinical development milestone payment from its partner, GlaxoSmithKline, related to the initiation of Phase 1 clinical trials of 677116 for the treatment of cardiovascular disease. 677116 is a small-molecule inhibitor of lipoprotein-associated phospholipase A2 (Lp-PLA2), an enzyme associated with the formation of atherosclerotic plaques. GlaxoSmithKline discovered 677116 under a collaboration agreement entered into in 1993 with Human Genome Sciences for the sharing of genomics technology and intellectual property. It is the third small-molecule inhibitor of Lp-PLA2 arising from the collaboration agreement that GlaxoSmithKline has entered into clinical development.1, 2, 3 Under the terms of the collaboration agreement, Human Genome Sciences is entitled to receive clinical development milestone payments and royalties for compounds discovered by GlaxoSmithKline as part of the collaboration. Under the agreement, Human Genome Sciences will receive an additional milestone payment if 677116 moves into registration, and will receive royalties if the compound is commercialized. In addition, Human Genome Sciences has an option to co-promote an approved drug in the North American and European markets. William A. Haseltine, Ph.D., Chairman and CEO, said, “Inhibition of the Lp-PLA2 enzyme ultimately may offer an important new strategy for the prevention and treatment of cardiovascular disease. We are pleased that GlaxoSmithKline has chosen to enter 677116 into clinical development. Our relationship with GlaxoSmithKline demonstrates that genomics is an important source of innovation for the discovery of novel drugs to prevent and treat serious illnesses.” Health professionals interested in more information about trials involving HGSI products are encouraged to inquire via the Contact Us section of the Human Genome Sciences web site, www.hgsi.com/products/request.html, or by calling (240) 314-4400, extension 3550. Human Genome Sciences is a company with the mission to treat and cure disease by bringing new gene-based protein and antibody 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. ###
Footnotes:
CONTACTS: |