FOR
IMMEDIATE RELEASE
Valentis
Licenses GeneSwitch® Technology to Pfizer for Research
October 24, 2001 Burlingame, CA — Valentis, Inc. (NASDAQ:
VLTS)
Valentis (Nasdaq:
VLTS) today
announced that it has granted a non-exclusive license to Pfizer, Inc
(NYSE:
PFE) for the Company's GeneSwitch(TM) gene regulation technology. This
is the fourth such license Valentis has granted to major pharmaceutical and
biotechnology companies since February 2001. The non-exclusive license is for
research purposes only. Financial terms were not disclosed. Valentis
maintains all rights to clinical gene therapy applications of the
GeneSwitch(TM) gene regulation technology.
The GeneSwitch(TM) gene regulation system allows researchers to control
the level and duration of selected genes in transgenic animals and cell
cultures, aiding in the identification and characterization of a gene's
function. Valentis also is currently developing the GeneSwitch(TM) gene
regulation system as a component for its own Genemedicine(TM) products
delivered with the Company's synthetic (lipid and polymer) delivery systems.
Further technical and licensing information on the GeneSwitch(TM) gene
regulation technology can be found at http://www.geneswitch.com.
Valentis converts genomic discoveries into medicines. The Company applies
its proprietary synthetic, lipid and polymer, gene delivery, gene regulation,
and PEGylation technologies to create novel therapeutic products in the fields
of cardiovascular disease, oncology, hematology, and infectious diseases.
Enabled by its expertise in preclinical research & development, clinical
development, and manufacturing, Valentis has created a broad product portfolio
designed to improve the safety, efficacy and dosing characteristics of genes,
proteins, peptides, antibodies, viruses and liposomes. Additional information
about Valentis can be found at http://www.valentis.com.
Statements in this press release that are not strictly historical are
"forward-looking" statements as defined in the Private Securities Litigation
Reform Act of 1995. The words "believes," "expects," "intends,"
"anticipates," variations of such words, and similar expressions identify
forward-looking statements, but their absence does not mean that the statement
is not forward-looking. These statements are not guarantees of future
performance and are subject to certain risks, uncertainties and assumptions
that are difficult to predict. Factors that could affect Valentis' actual
results include the need for additional capital, the early stage of product
development, uncertainties related to clinical trials, and uncertainties
related to patent position. There can be no assurance that Valentis will be
able to develop commercially viable Genemedicine(TM) products or PEGylated
biopharmaceuticals, that any of the company's programs will be partnered with
pharmaceutical partners, that necessary regulatory approvals will be obtained,
or that any clinical trial will be successful. Actual results may differ from
those projected in forward-looking statements due to risks and uncertainties
that exist in the companies' operations and business environments. These are
described more fully in the Valentis Annual Report on Form 10-K for the period
ended June 30, 2001 filed with the Securities and Exchange Commission.
