Printer Friendly

SOMATIX THERAPY CORPORATION IN DISCUSSIONS WITH CORPORATE PARTNERS

 SOMATIX THERAPY CORPORATION IN DISCUSSIONS WITH CORPORATE PARTNERS
 ALAMEDA, Calif., Oct. 26 /PRNewswire/ -- Somatix Therapy Corporation (NASDAQ: SOMA) today responded to a report appearing in the trade publication BioWorld Today that the company is discussing a potential corporate partnership which it hopes to complete by the end of this calendar year. The BioWorld Today story was the result of comments made by David Carter, the company's chief executive officer at a recent investor conference. In his comments, Mr. Carter reiterated that the company's goals for this year included the completion of a corporate partnership which would provide substantial additional funding for the company's programs.
 Although the company remains optimistic that it will be able to conclude a corporate partnership in this calendar year, Mr. Carter has stated that this is his and the company's objective and that negotiations with more than one party have been ongoing for quite some time. However, no letter of intent or binding agreement of any type has been signed and that until a definitive agreement is executed no assurances can or should be given than any such partnership will be successfully concluded.
 Somatix Therapy Corporation is a leader in the field of gene therapy. The company is focused on the genetic modification of selected human cells to enable the production and delivery of therapeutic substances within the patient's body. Somatix believes that gene therapy, which requires gene transfer technology, will provide a safe and effective means of delivering many therapeutic substances. Somatix has gene therapy programs in cancer, neural diseases and blood disorders.
 -0- 10/26/92
 /CONTACT: Edward Lanphier of Somatix Therapy Corporation, 510-748-3036/
 (SOMA) CO: Somatix Therapy Corporation ST: California IN: MTC SU:


TS-OS -- NY023 -- 4608 10/26/92 09:36 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 26, 1992
Words:289
Previous Article:THERMEDICS INC. ANNOUNCES THIRD QUARTER RESULTS
Next Article:GLACIER HOLDINGS OPENS FIRST OVERSEAS OFFICE
Topics:


Related Articles
SOMATIX NAMES EXECUTIVE VICE PRESIDENT OF COMMERCIAL DEVELOPMENT
SOMATIX NAMES SOFRONIEW TO HEAD NEURAL PROGRAM
SOMATIX ANNOUNCES COLLABORATION WITH THE CALIFORNIA PARKINSON'S FOUNDATION
BRISTOL-MYERS SQUIBB INVESTS IN SOMATIX; COMPANIES TO EVALUATE POSSIBLE AREAS FOR COLLABORATION IN GENE THERAPY
Cell Genesys and Somatix Agree to Merge
Somatix Reports Fiscal 1997 Second Quarter Results
Somatix Reports Third Quarter Fiscal 1997 Results
Cell Genesys/Somatix Merger Completed
Protein Design Labs Grants Humanization Patent License To NeoRx

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters