BioChem and XTL ink alliance for hepatitis drug discovery.REHOVOT, Israel and LAVAL, Quebec--(HealthWire)--Aug. 16, 1996-- XTL XTL Crystal XTL Xpress Train Limited XTL Anything-To-Liquids (synthetic fuels) XTL XML Template Language XTL Xml Transformation Language XTL Extensible Transformation Language XTL Executable Temporal Language Biopharmaceuticals Ltd. (private) and BioChem Therapeutic Inc. (wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of BioChem Pharma Inc., Nasdaq:BCHXF) announced that they have entered into an alliance for the discovery of novel drugs for the treatment of hepatitis C Hepatitis C Definition Hepatitis C is a form of liver inflammation that causes primarily a long-lasting (chronic) disease. Acute (newly developed) hepatitis C is rarely observed as the early disease is generally quite mild. infections. The alliance is based on BioChem's expertise in medicinal chemistry and virology virology, study of viruses and their role in disease. Many viruses, such as animal RNA viruses and viruses that infect bacteria, or bacteriophages, have become useful laboratory tools in genetic studies and in work on the cellular metabolic control of gene expression and XTL's proprietary Trimera technology which can be used to model hepatitis B Hepatitis B Definition Hepatitis B is a potentially serious form of liver inflammation due to infection by the hepatitis B virus (HBV). It occurs in both rapidly developing (acute) and long-lasting (chronic) forms, and is one of the most common chronic and C infections in vivo in vivo /in vi·vo/ (ve´vo) [L.] within the living body. in vi·vo adj. Within a living organism. in vivo adv. . The Trimera technology was licensed exclusively from The Weizmann Institute of Science The Weizmann Institute of Science (מכון ויצמן למדע) is a world-renowned institute of higher learning and research in Rehovot, Israel. . Last year, BioChem and XTL inked an option agreement focusing on XTL's hepatitis modeling. After XTL attained certain technical goals BioChem has entered into a license agreement based on terms predefined. Under the terms of the agreement, BioChem has an exclusive license to access XTL's Trimera hepatitis modeling capabilities for assessing BioChem candidate antivirals for a period of two years with one year extensions possible. XTL retains the right to use the model for its own therapeutic approaches to hepatitis. BioChem has agreed to fund XTL's Trimera model development and provide a milestone and royalty payments on drugs developed using the Trimera technology. In addition, BioChem will make an equity investment in XTL if BioChem wishes to maintain exclusivity of access to XTL's modeling beyond two years. "During the past year in working with BioChem, we have come to appreciate their excellent capabilities in both the scientific and management spheres. XTL looks forward to a fruitful continued relationship which we are hopeful, can yield important new therapeutic entities for treating hepatitis," said Martin Becker, Ph.D., president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of XTL Biopharmaceuticals Ltd. BioChem Pharma is an international biopharmaceuticals 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). XTL Biopharmaceuticals Ltd. is an early stage private biopharmaceutical company located in Rehovot. XTL's mission is to discover innovative breakthrough products for treating viral diseases, autoimmune diseases, and cancer. Apart from its human disease modeling capabilities, XTL has employed its proprietary Trimera technology for the development of fully human, high affinity monoclonal antibodies. XTL intends to commercialize its products through alliances with multinational pharmaceutical and biopharmaceutical companies. In addition to the alliance with BioChem, XTL has established an alliance with Neoprobe Corp. for developing new therapeutic approaches to oncology. CONTACT: XTL Biopharmaceuticals Ltd., Rehovot Dr. Martin Becker, President and CEO, 011/972-89405134 or BioChem Pharma Inc. Christine Lennon, VP, Corporate Communications 514/978-7938 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion