BioChem and Oncogene Science sign agreement to discover, develop and commercialize novel antiviral agents.LAVAL, Quebec and UNIONDALE, N.Y.--(BUSINESS WIRE)--May 1, 1996-- A joint collaborative research, development and commercialization agreement for the discovery and development of antiviral drugs for hepatitis C and novel approaches for HIV HIV (Human Immunodeficiency Virus), either of two closely related retroviruses that invade T-helper lymphocytes and are responsible for AIDS. There are two types of HIV: HIV-1 and HIV-2. HIV-1 is responsible for the vast majority of AIDS in the United States. , was announced today by BioChem Therapeutic Inc. and Oncogene oncogene Gene that can cause cancer. It is a sequence of DNA that has been altered or mutated from its original form, the proto-oncogene (see mutation). Proto-oncogenes promote the specialization and division of normal cells. Science, Inc. Under the terms of the agreement, both companies will commit a team of research scientists to discover novel treatments for hepatitis C and HIV. The agreement, which calls for shared research, development and commercialization, is for a period of five years, with a review after three years. Commercialization rights will be shared equally by the two companies. "Oncogene Science is at the forefront of drug lead discovery and is a leader in high throughput screening (HTS HTS Heights HTS Harmonized Tariff System HTS High Throughput Screening (biomolecular assay screening) HTS High-Throughput Screening (Pharmaceutical Industry) HTS Harmonized Tariff Schedule ) utilizing cell-based assays. This capability, coupled with BioChem's proven ability to rapidly advance leads into development candidates by applying its medicinal chemistry expertise, will create a powerful scientific collaboration to identify novel treatments for HIV and HCV HCV abbr. hepatitis C virus HCV 1 Hepatitis C virus, see there 2. Human coronavirus. See Coronavirus. ," says Michael G. Grey, President, BioChem Therapeutic Inc. "We're very excited to work with BioChem, particularly in view of their track record in antiviral drug discovery and development," states Gary E. Frashier, Chief Executive Officer of Oncogene Science, Inc. "We are looking forward to a very productive collaboration with our scientists in these important diseases." Oncogene Science, Inc. is a biopharmaceutical company utilizing proprietary technology to discover and develop drugs for the treatment of human diseases associated with abnormalities of cellular control, including cancer, virology, diabetes and atherosclerosis. The Company's shares are traded on NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on (ONCS ONCS Open Network Computer Server ). BioChem Therapeutic Inc. is the wholly-owned therapeutic subsidiary of BioChem Pharma. BioChem Pharma Inc. is an international biopharmaceutical company dedicated to the research, development and commercialization of innovative products for the prevention, detection and treatment of human diseases. The Company's shares are traded on the Montreal and Toronto stock exchanges (BCH BCH Beach BCH Banco Central de Honduras BCH Boot Console Handler BCH Boulder Community Hospital (Boulder, CO, USA) BCH Broadcast Channel BCH Belfast City Hospital BCH Banco Central-Hispano ) and on NASDAQ (BCHXF). CONTACT: Christine Lennon or Matthew D. Haines BioChem Pharma Inc. Oncogene Science, Inc. Tel.: (514) 978-7771 Tel.: (516) 222-0023 |
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