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GLAXO AND LIGAND PHARMACEUTICALS TO ESTABLISH DRUG DEVELOPMENT RESEARCH PROGRAM FOR PREVENTION AND TREATMENT OF ATHEROSCLEROSIS

 GLAXO AND LIGAND PHARMACEUTICALS TO ESTABLISH DRUG DEVELOPMENT
 RESEARCH PROGRAM FOR PREVENTION AND TREATMENT OF ATHEROSCLEROSIS
 RESEARCH TRIANGLE PARK, N.C., Sept. 9 /PRNewswire/ -- Glaxo Inc. and Ligand Pharmaceuticals have agreed to establish a five-year collaborative research program to discover and develop drugs to treat or prevent atherosclerosis. Atherosclerosis is a disease characterized by the formation of fatty plaques in the walls of arteries, often leading to heart attacks or strokes.
 The joint effort will combine Ligand's strength in hormone-activated intracellular receptor technology with Glaxo's research and development capabilities and international marketing structure. Coordinated research will be conducted primarily at Ligand's facilities in San Diego and at Glaxo Group Research laboratories in the United Kingdom.
 In accordance with the agreement, Glaxo will pay all costs of its own research and will share the costs of Ligand's research in this area. Glaxo also will make payments to Ligand at key development milestones. Glaxo will be responsible for development and registration of any compounds resulting from the collaboration.
 Glaxo will have exclusive worldwide marketing rights to any products resulting from the research. Ligand will receive royalties from sales of any products that are marketed.
 Additionally, Glaxo will make an equity investment in Ligand, acquiring a 6 percent interest in the company.
 David E. Robinson, Ligand's president and chief executive officer, said the collaboration will be based on a highly promising area of the company's technology.
 "We are very pleased to join in this scientifically exciting collaboration with Glaxo," he said. "With the addition of their superb research, development and marketing capabilities, we will be able to fully exploit the drug discovery potential of Ligand's technology in the field of atherosclerosis."
 Robert B. Stein, M.D., Ph.D., Ligand's vice president of research, explained, "Disturbances in lipid and cholesterol levels in blood contribute to the development of atherosclerosis. Ligand scientists have discovered novel biological mechanisms involved in controlling plasma lipid and cholesterol levels. In collaboration with Glaxo's scientists, we will be seeking small molecules which operate through these novel mechanisms to correct the disturbances which accelerate atherosclerosis.
 "Several hormones and the family of intracellular receptors, which form the core of Ligand's expertise, play major roles in regulation of lipid and cholesterol production and distribution. At Ligand, molecular details of that regulation are being elucidated, leading to previously unavailable approaches to discovering drugs to prevent or treat atherosclerosis."
 Richard B. Sykes, Ph.D., Glaxo's research and development director, said, "This alliance will provide Glaxo immediate access to Ligand's leading position in intracellular receptor technology. These receptors provide ideal molecular targets for Glaxo's proven expertise in the design of highly selective drugs. By working together, Glaxo and Ligand hope to develop a critical lead in the discovery of novel therapeutics for atherosclerosis."
 Glaxo Inc. is the nation's second largest research-based pharmaceutical company. A subsidiary of London-based Glaxo Holdings p.l.c., it researches, develops, manufactures and markets prescription medicines for the treatment of cardiovascular, gastrointestinal, respiratory, central nervous system, and infectious diseases, as well as diseases of the skin.
 San Diego-based Ligand Pharmaceuticals, founded in 1987, is a privately held company which is a leader in the area of intracellular receptor technology. Combining modern molecular biology with traditional drug discovery, Ligand's programs are directed at the discovery and development of non-peptide small molecule drugs for the treatment of human disease.
 -0- 9/9/92
 /CONTACT: Ramona Jones, Corporate Communications, Glaxo, 919-248-2839/ CO: Glaxo, Inc.; Ligand Pharmaceuticals ST: North Carolina, California IN: MTC SU:


CM -- CH004 -- 7563 09/09/92 13:58 EDT
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Date:Sep 9, 1992
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