Valentis,
Inc. Announces The Market
Introduction of its GeneSwitch® System by INVITROGEN
November 3, 1999 Burlingame, CA — Valentis, Inc.
(Nasdaq:
VLTS)
today announced the commercial launch of
Valentisí proprietary GeneSwitch®
gene regulation system to the life sciences
research market by Invitrogen Corporation (Nasdaq:IVGN).
The GeneSwitch® is a plasmid-based
technology that enables precise control of
expression for specific genes using a small
molecule inducer. The introduction of the
GeneSwitch® marks the first
commercial product introduction of Valentisí
technology and the initial transfer of
certain of its in vivo gene therapy
technologies for use as research tools.
Valentis
is currently developing the GeneSwitch®
technology for use in a variety of gene
medicines to control the level and duration
of gene expression when introduced via gene
therapy. Using the GeneSwitch®,
therapeutic genes may be turned on
(expressed) by administration of an orally
bioavailable drug in a dose-dependent
manner, and levels of therapeutic proteins
can be controlled as needed by
administration of the regulating drug in
pill form. Potential applications of the
GeneSwitch® include viral and
plasmid-based gene medicines, as well as
functional genomic studies using transgenic
animals.
"We
are making the GeneSwitch®
technology available to the research market
to allow researchers in various fields to
work with the system and more fully exploit
its potential," stated Ben McGraw,
President and Chief Executive Officer of
Valentis. "As researchers begin to
identify all of the genes in the human
genome, the ability to control the level and
duration of expression of these genes should
improve our understanding of their function.
Well-characterized genes of therapeutic
potential are the raw material for our gene
therapy products. We are extremely pleased
to have the first product from this
technology launched by Invitrogen."
"Having
the exclusive right to offer the Valentis
GeneSwitch® technology to life
science researchers strengthens our position
in gene expression technologies for research
applications," noted Lyle C. Turner,
Chairman and Chief Executive Officer of
Invitrogen. "The GeneSwitch®
system addresses the critical need for a
mammalian expression system with
exceptionally low basal and high induced
levels of recombinant protein expression.
The elegance of the control mechanism makes
the GeneSwitch® system an ideal
tool for protein expression studies using
cultured cells or whole animals."
Valentis
licensed the GeneSwitchô technology to
Invitrogen in December 1998 on an exclusive
worldwide basis for use in the life sciences
research market. The GeneSwitchô is
protected by a number of issued patents and
pending patent applications worldwide. For
product information or to order the
GeneSwitch® system please visit
www.invitrogen.com
or call 1-800-955-6288.
Invitrogen
develops, manufactures, and markets research
tools in kit form and provides other
research products and services to corporate,
academic and government entities. These
research kits simplify and improve gene
cloning, gene expression and gene analysis
techniques as well as other molecular
biology activities. Through Invitrogenomics®,
the company also provides gene cloning and
expression services on a contract basis
using its "high-throughput" gene
cloning and expression technology. Founded
in 1987, Invitrogen is headquartered in San
Diego, California and has European
operations in Groningen, Netherlands, and in
Frankfurt and Heidelberg, Germany.
Valentis,
Inc. (resulting from the merger of Megabios,
Inc., GeneMedicine, Inc. and PolyMASC
Pharmaceuticals plc) is a leader in the
field of biologics delivery. The Company
develops proprietary technologies and
applies its preclinical and early clinical
development expertise to create novel
therapeutics. The Companyís core
technologies include multiple gene delivery
and gene expression systems and PEGylation
technologies designed to improve the safety,
efficacy and dosing characteristics of
genes, proteins, peptides, peptidomimetics,
antibodies and replicating and
non-replicating viruses.
These
technologies are covered by a broad patent
portfolio that includes issued U.S. and
European claims. Valentis' commercial
strategy is to enter into corporate
collaborations for full-scale clinical
development and marketing and sales of
products. Valentis currently has corporate
collaborations with Roche Holdings, Eli
Lilly, and Glaxo Wellcome, a manufacturing
partnership with DSM Biologics and Qiagen
N.V, and through its wholly-owned
subsidiary, PolyMASC Pharmaceuticals,
collaborations with Transkaryotic Therapies,
Onyx Pharmaceuticals and Bayer
International. Additional information about
Valentis can be found at www.valentis.com
and www.polymasc.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.
These statements include those describing
future products and applications of the
GeneSwitch® technology, the
usefulness of GeneSwitch® for
research and statements regarding pending
patents. There can be no assurance that
Valentis will be able to develop a
commercially viable gene-based therapeutic,
that any of its programs will be partnered
with a pharmaceutical partner, that
necessary regulatory approvals will be
obtained, that any clinical trials will be
successful, that pending patents will issue
or that Invitrogen will be able to
successfully market this product. The actual
results may differ from those projected in
the forward-looking statements due to risks
and uncertainties that exist in the
Company's operations and business
environment. These are described more fully
in the Valentis Annual Report on Form 10-K
for the period ended June 30, 1999
filed with the Securities and Exchange
Commission.
