MADISON, N.J., and CARLSBAD, Calif., July 9 /PRNewswire/ -- Schering- Plough
Corporation (NYSE: SGP) and The Immune Response Corporation (Nasdaq: IMNR)
today announced a research collaboration and option agreement to combine
Immune Response's proprietary GeneDrug(TM) gene delivery technology with the
interferon alfa-2b gene and other Schering-Plough proprietary genes to develop
gene therapy products for the treatment of hepatitis B and C, and other
diseases.
Under terms of the agreement, Schering-Plough may obtain rights to existing
and future gene therapy technology developed by Immune Response in conjunction
with type-1 interferon genes. Under terms of the initial preclinical research
agreement, The Immune Response Corporation could receive approximately $5
million in initial fees, reimbursement expenses and technical milestone
payments related to the delivery of the interferon alfa-2b gene for the
treatment of hepatitis B and C.
As part of the agreement, Schering-Plough has the option to license Immune
Response's gene delivery system for additional proprietary Schering-Plough
genes. If Schering-Plough exercises its option to utilize Immune Response's
delivery system for additional proprietary genes, total payments to Immune
Response could exceed $75 million in additional licensing fees and milestone
payments. The agreement also provides for Schering-Plough to pay royalties on
future product sales.
"Schering-Plough is a market leader in alpha interferon therapy," said Dennis
J. Carlo, Ph.D., president and chief executive officer of The Immune Response
Corporation. "Immune Response now has two separate collaborations in place
using our GeneDrug delivery technology. We believe this collaboration between
Immune Response and Schering-Plough continues to validate the technological
approach and further strengthens our gene therapy program. We hope that the
results of this collaboration will ultimately prove beneficial to individuals
afflicted with hepatitis," Carlo said.
The Immune Response Corporation is a biopharmaceutical company based in
Carlsbad, California, developing immune-based therapies to induce specific T
cell responses for the treatment of HIV, autoimmune diseases and cancer. The
company is conducting clinical trials for its immune-based therapies for HIV,
rheumatoid arthritis, psoriasis, multiple sclerosis, colon cancer and brain
cancer, and preclinical studies for melanoma and prostate cancers. In
addition, the company is developing a targeted delivery technology for gene
therapy that is designed to enable the intravenous injection of genes for
delivery directly to the liver. The company's gene therapy program is
currently focused on diseases of the liver and is in preclinical studies for
the treatment of hemophilia and hepatitis.
Schering-Plough is a research-based company engaged in the discovery,
development, manufacturing and marketing of pharmaceutical and health care
products worldwide.
THE IMMUNE RESPONSE CORPORATION DISCLOSURE NOTICE: This news release contains
forward-looking statements. Actual results could vary materially from those
expected due to a variety of risk factors, including whether Schering-Plough
will terminate the research and collaboration agreement, whether Schering-
Plough will exercise its option to utilize Immune Response's delivery system
for additional proprietary genes, whether any potential product will enter
clinical development, the uncertainty of successful completion of clinical
trials, and those risks set forth from time to time in The Immune Response
Corporation's SEC filings, including but not limited to its report on Form
10-K for the year ended December 31, 1997. The company undertakes no
obligation to publicly release the result of any revisions to these forward-
looking statements which may be made to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated events.
SOURCE Schering-Plough Corporation; The Immune Response Corporation
CO: Schering-Plough Corporation; Immune Response Corporation
ST: New Jersey
IN: MTC
SU:
07/09/98 08:35 EDT http://www.prnewswire.com