CAMBRIDGE, Mass., Feb. 23 /PRNewswire/ -- Biogen, Inc. (Nasdaq: BGEN) and
Ontogeny, Inc., a privately held biotechnology company and leader in the field
of developmental biology, today announced the extension and expansion of their
existing agreement to collaborate on the discovery and commercialization of
three cell differentiation factors from the Hedgehog gene family. The
agreement covers most disease areas, with the initial focus being on
neurological disorders.
The agreement has been extended through June 2001 and expanded to include
certain areas of gene therapy. The original collaboration was signed in July
1996. Financial terms of the extended agreement were not disclosed.
Under the agreement, Biogen has exclusive worldwide rights to therapeutics
directly based on Ontogeny's proprietary family of Hedgehog proteins, Sonic,
Indian, and Desert Hedgehogs, for most disease areas. Hedgehog proteins are a
class of novel human proteins that are responsible for inducing the formation
or regeneration of tissues.
Jim Vincent, Biogen's Chairman and Chief Executive Officer, said, "We are
pleased to extend and expand our research collaboration with Ontogeny.
Developmental biology and gene therapy are exciting approaches to drug
development. Ontogeny has strong core technologies, proprietary positions and
solid data validating the role of the hedgehog protein family. Combined with
Biogen's experience, we believe we have a solid approach to pursuing this
biology to determine therapeutic utility and commercial viability."
"Biogen has been a superb partner, and together, the Ontogeny-Biogen team has
made critical contributions to the advancement of the hedgehog program," said
Doros Platika, M.D., Ontogeny's President and Chief Executive Officer. "We are
delighted that we will have the opportunity to work together for another three
years and to expand the collaboration to include gene therapy. We believe that
Biogen's expertise with biological therapeutics will be a key component in
further building value through the creation of hedgehog-based therapeutics."
The statements in this press release that are not historical facts are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These statements are based on current
expectations. Drug development and commercialization involve a high degree of
risk. Factors which could cause actual results to differ materially from
current expectations include the technical hurdles associated with research
and development, the risks and uncertainties associated with showing that a
product is safe and effective at each stage of the clinical trial process,
meeting applicable regulatory standards and proceeding through the regulatory
approval process, obtaining and maintaining necessary patents and licenses,
producing product in commercial quantities at a reasonable cost, receiving
reimbursement coverage for the product and competing successfully against
other products as well as the other risks and uncertainties detailed from time
to time in Ontogeny's and Biogen's periodic reports.
Biogen, Inc., winner of the 1998 U.S. National Medal of Technology, is a
biopharmaceutical company principally engaged in discovering and developing
drugs for human healthcare through genetic engineering. Headquartered in
Cambridge, MA, the Company's revenues are generated from U.S. and European
sales of AVONEX(R) (Interferon beta-1a) for treatment of relapsing forms of
multiple sclerosis, and from the worldwide sales by licensees of a number of
products, including alpha interferon and hepatitis B vaccines and diagnostic
products. Biogen's research and development activities are focused on novel
products for multiple sclerosis, inflammatory, respiratory, kidney and
cardiovascular diseases and in developmental biology and gene therapy. For
copies of press releases and additional information about the Company, please
consult Biogen's Homepage on the World Wide Web at http://www.biogen.com.
Ontogeny, Inc., located in Cambridge, MA, and founded in 1994, is a privately
held company whose mission is to be the preeminent biopharmaceutical company
utilizing developmental biology to create therapeutics that will significantly
improve the quality of life by activating the body's ability to repair and
regenerate. The Company is developing therapeutics for neurological diseases
including Parkinson's and Alzheimer's diseases, diabetes, bone and cartilage
disorders including osteoarthritis and fractures, blood disorders and cancer.
More information about Ontogeny is available on the Internet at
http://www.ontogeny.com.
SOURCE Biogen, Inc.; Ontogeny, Inc.
CO: Biogen, Inc.
ST: Massachusetts
IN: MTC
SU: