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Viral Therapeutics, Inc. Expands Operations In
Pharmacogenetics By Purchasing DzGenes
Ithaca, NY and St.
Louis, MO, 11 February 2003 – Viral Therapeutics, Inc.,
located at the Cornell Business and Technology Park, Ithaca,
NY and DzGenes,
L.L.C. of St. Louis,
MO. announced today that they have completed an asset purchase
agreement. The transaction is expected to significantly
expand Viral Therapeutics' ability to perform disease gene
association and genetic marker validation studies. Viral
Therapeutics believes this action potentially provides a
pipeline of validated genes for downstream development of
diagnostic and therapeutic products.
"This transaction unites Viral Therapeutics' leading
expertise in proteins and DzGenes' vast collection
of diverse populations and clinical data. We believe
this will significantly expand our capabilities in BioPharma
development and increase the services we can offer clients
through our BioTech Services," said Dr. Lee Henderson, Chief
Executive Officer, Viral Therapeutics. "For example, one
of the key assets we purchased was patent submissions linking
96 single nucleotide polymorphisms (SNPs) with end stage renal
disease. We would like to work with a client to
determine which of these SNPs are functional and validate new
diagnostic and therapeutic targets. The protocols
developed by DzGenes and its human DNA
sample collection should permit Viral Therapeutics and its
clients to find, identify, and characterize disease
associations. These capabilities will be important to
companies conducting clinical trials that need to understand
the genetic differences between positive and negative
responders. Clinical trials are often stopped when
toxicity and efficacy problems surface, but many of these
could proceed if the adverse responders could be identified as
a unique group(s). Drug companies may also be able to
more effectively allocate scarce research dollars by using
haplotype analyses of patients to do a substantially better
job of estimating future market size even while still very
early in a drug's development."
"The acquisitions of Gemini Genomics, Axys Pharmaceutical,
Sequana Therapeutics, Variagenics and now DzGenes is testimony to
the fact that companies with clinical samples and a focus on
linking diseases to genes have created valuable intellectual
property portfolios and have established the means for
generating even more breakthrough discoveries" says Terry
Kungel, DzGenes' Chief Executive
Officer. "One of the most compelling reasons for doing
the transaction with Viral Therapeutics was the fact that we
recognized that while the preliminary disease association
between a SNP, or a haploytype, and a disease is very
important, it is also insufficient. Viral Therapeutics
can potentially help every company that linked diseases to
genetic polymorphisms do the required work in protein analyses
needed to validate their findings."
About Viral Therapeutics, Inc. Viral Therapeutics
has an early drug pipeline in infectious disease. The
Company has a strong expertise in recombinant protein
expression, development and scale up with nearly eight years
of experience and over 55 clients who purchase diagnostic
proteins and contract development capabilities. VTI has
a focus on early stage biopharmaceutical development with
proprietary technologies and a portfolio of over 100 licensed
patents.
Information about Viral Therapeutics, Inc. is available at
www.viral-therapeutics.com, or by contacting
Dr. Lee A. Henderson, Chief Executive Officer, 607-266-0860,
lah@viral-therapeutics.com
About DzGenes,
L.L.C. DzGenes was committed to
becoming an innovative force in helping pharmaceutical
companies and health care providers improve drug efficacy and
clinical outcomes by addressing genetic variations among
patients. The Company utilized unique approaches in
creating nine diagnostic patent submissions and it developed
proprietary know-how managing its own 10,000+ out-bred sample
collection.
Information about DzGenes, L.L.C. is available at www.DzGenes.com, or by contacting
Terry Kungel, 314-308-1780, TKungel@ATTGlobal.net
Forward Looking
Statements Statements contained in this press release
which are not historical in nature, are intended to be, and
are hereby identified as "forward looking statements" for
purposes of the safe harbor provided by the Private Securities
Litigation Reform Act of 1995. Forward looking
statements may be identified by words such as "believe,"
"expect," "anticipate," "should," "may," "will," "estimate,"
"goals," and "potential," among others. Such statements
are based on our management's current expectations and involve
risks and uncertainties. Actual results and performance
could differ materially from those projected in the forward
looking statements as a result of many factors, including,
without limitation, the risk that we may not successfully
integrate the DzGenes business following our recent purchase
of assets transaction, uncertainties relating to drug
discovery, clinical development processes and the development
and commercialization of our diagnostics technology; changes
in relationships with strategic partners and dependence upon
strategic partners for the performance of critical activities
under collaborative agreements; the impact of competitive
products and technological changes; uncertainties relating to
patent protection and regulatory approval; and uncertainties
relating to our ability to obtain substantial additional funds
required for progress in drug discovery and development.
We disclaim any intent or obligation to update these forward
looking statements.
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