Crompton and Biosyn Sign Licensing Agreement for Topical Microbicide Development for Prevention of AIDS.Business Editors GREENWICH, Conn. & PHILADELPHIA--(BUSINESS WIRE)--May 23, 2001 Companies Aim to Create "Effective Topical Defense Against 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. and Sexually Transmitted Diseases Sexually transmitted diseases Infections that are acquired and transmitted by sexual contact. Although virtually any infection may be transmitted during intimate contact, the term sexually transmitted disease is restricted to conditions that are largely " Crompton Corporation (NYSE NYSE See: New York Stock Exchange :CK) and Biosyn, Inc. today announced the signing of a worldwide exclusive licensing agreement for Biosyn to develop Crompton's UC781 compound as a topical microbicide targeted against the AIDS virus. "There is a compelling need for an effective topical defense against HIV transmission and sexually-transmitted diseases," said Anne-Marie Corner, president and chief executive officer of Biosyn, Inc. "Although early in its testing, UC781 shows potent anti-viral activity compared with other NNRTIs (non-nucleoside reverse transcriptase inhibitors Non-Nucleoside Reverse Transcriptase Inhibitors Definition This type of drug interferes with an enzyme that is key to the replication (reproduction) of the human immunodeficiency virus (HIV). ), and in laboratory experiments effectively suppresses replication of HIV. Biosyn's strategy is to build a portfolio of microbicide candidates that have different modes of action, and UC781 is clearly the best NNRTI NNRTI Non-nucleoside reverse transcriptase inhibitor, see there for this application. In addition, the potential exists to couple UC781 with our existing SAVVY(R) product and create a microbicide that is effective against multiple sexually transmitted diseases including chlamydia chlamydia (kləmĭd`ēə), genus of microorganisms that cause a variety of diseases in humans and other animals. Psittacosis, or parrot fever, caused by the species Chlamydia psittaci, and gonorrhea gonorrhea (gŏnərē`ə), common infectious disease caused by a bacterium (Neisseria gonorrhoeae), involving chiefly the mucous membranes of the genitourinary tract. ." "We believe that Biosyn, with its leadership position in the microbicide arena, is the best partner to head the development and commercialization of this compound," said Edward L. Hagen, Ph.D., senior vice president, strategy and development, for Crompton Corporation. "Our alliance with Biosyn enables Crompton to leverage its pipeline of product candidates by utilizing development and marketing expertise outside our core businesses." Multi-Billion Dollar Worldwide Market Potential The Alan Guttmacher Institute, a non-profit organization focused on reproductive health research, policy analysis and public education, estimates that the market potential for an effective topical microbicide is between $800 million to $1 billion for the U.S. alone. The estimated potential for other markets is in excess of $2 billion. Origins of UC781 UC781 was originally developed by Crompton scientists to combat pathogenic fungi in crops. The company regularly tests chemicals for pharmaceutical activity through an arrangement with the National Cancer Institute. Precursors of UC781 indicated potential activity against HIV, the virus that causes AIDS. Crompton scientists, in consultation with world-renowned experts at the Rega Institute in Belgium and McGill University in Canada, have optimized UC781 for the treatment of patients with HIV/AIDS HIV/AIDS Human Immunodeficiency Virus/Acquired Immune Deficiency Syndrome and for the prevention of transmission of the virus to the uninfected. Terms of the Transaction In exchange for worldwide exclusive rights for topical microbicide applications, Biosyn will fund all development costs and give Crompton milestone and royalty payments, including exercisability of warrants if Phase III trials are initiated for HIV claims on a UC781 product. Crompton retains technology rights to UC781 as a therapeutic and for all other indications. In addition, Crompton received a grant-back of rights to utilize data in Biosyn's New Drug Application (NDA (Non Disclosure Agreement) An agreement signed between two parties that have to disclose confidential information to each other in order to do business. In general, the NDA states why the information is being divulged and stipulates that it cannot be used for any ), if approved, for certain other applications. Crompton plans to use its rubber and urethane urethane (yoor´ithān´), n ethyl carbamate used as an anesthetic agent for laboratory animals, formerly used as a hypnotic in humans. expertise to explore other applications for UC781, such as an antiviral barrier in medical gloves. About Crompton Crompton Corporation is a $3.0 billion global producer and marketer of specialty chemicals and polymer products and equipment. About Biosyn Biosyn is a research and development company focused on the development of novel, targeted delivery drugs for the treatment and prevention of infectious disease. Products in clinical development include ORAMED(R), a therapy for oral infections associated with immuno-compromised conditions such as herpes and candidiasis candidiasis (kăn'dĭdī`əsĭs), infection of the mucous membranes caused by the fungus Candida albicans. Other terms for candidiasis are yeast infection, moniliasis (after a former name of the fungal genus), and thrush, the ; and SAVVY, a vaginal gel designed to prevent the transmission of sexually transmitted diseases. Certain statements made in this release are forward-looking statements that involve risks and uncertainties, including, but not limited to, the efficacy of products under development, initiation of clinical trials, potential FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. approvals, size of potential markets, and market demand. Other risks and uncertainties with respect to Crompton are detailed in Crompton's filings with the Securities and Exchange Commission. These statements are based on currently available information and actual results may differ significantly from the results discussed. Forward-looking information is intended to reflect opinions as of the date this release was issued and such information will not necessarily be updated. |
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