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Serono and Cellular Genomics Announce Joint Kinase Discovery Program
GENEVA, Switzerland and BRANFORD, Conn., Oct. 9 /PRNewswire/ - Serono S.A. (Virt-X: SEO, NYSE: SRA) and Cellular Genomics Inc. (CGI) today announced a collaborative research agreement under the terms of which CGI will apply its chemical genetics technologies to four undisclosed target kinases selected by Serono.
"Kinases are an important family of targets in Serono's small molecule drug discovery programs for autoimmune and inflammatory diseases," said Silvano Fumero, Senior Executive Vice President Research & Pharmaceutical Development. "We look forward to working with Cellular Genomics' novel and exciting approach to identify and validate kinase targets for our chosen disease areas."
Serono has an established kinase discovery program with several molecules in preclinical research for multiple sclerosis, central nervous system disorders, rheumatoid arthritis, ischemic and inflammatory conditions.
"We are extremely pleased to have the opportunity to work with Serono, an industry leader in developing innovative therapeutics," said Louis Matis, President & Chief Executive Officer of Cellular Genomics. "We are confident that our unique chemical genetics technologies will significantly enhance Serono's kinase programs, and look forward to a highly productive relationship."
Under the agreement CGI will receive an undisclosed upfront fee and a series of milestone payments over a period of two years, and Serono will retain rights to acquire licenses to intellectual property arising from the collaboration.
The foundation of CGI's proprietary leading-edge approach to kinases is the replacement of a normal kinase with a modified kinase or ASKA (Analogue Sensitive Kinase Allele). This modified kinase can be inhibited with high selectivity and specificity by a specially designed inhibitor. This enables researchers to quickly understand the pharmacological consequences of inhibiting a chosen single kinase. Therefore, early in the discovery program researchers can evaluate the likely therapeutic benefit of inhibiting the normal kinase target with a small molecule drug.
Under the terms of the agreement, CGI will use its ASKA technology to produce the modified kinases for Serono. CGI will also use its P-target technology for in-depth mapping of clinically important kinase signalling pathways of interest to Serono.
About Kinases
Protein kinases are a major family of drug targets across a broad range of clinical indications. Protein kinases are considered to be the largest druggable target class, with ~2% of all genes encoding these key cellular enzymes. Kinases regulate critical pathways involved in cell growth,
activation, and death, and have been implicated in a growing number of diseases, such as cancer and autoimmune/inflammatory diseases.
Some of the statements in this press release are forward-looking. Such statements are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of Serono S.A. and affiliates to be materially different from those expected or anticipated in the forward-looking statements. Forward-looking statements are based on Serono's current expectations and assumptions, which may be affected by a number of factors, including those discussed in this press release and more fully described in Serono's Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission on May 21, 2002. These
factors include any failure or delay in Serono's ability to develop new products, any failure to receive anticipated regulatory approvals, any problems in commercializing current products as a result of competition or other factors, our ability to obtain reimbursement coverage for our products, and government regulations limiting our ability to sell our products. Serono has no responsibility to update the forward-looking statements contained in this press release to reflect events or circumstances occurring after the date of this press release.
About Serono
Serono is a global biotechnology leader. The Company has six recombinant products on the market, Gonal-F(R), Luveris(R), Ovidrel(R)/Ovitrelle(R), Rebif(R), Serostim(R) and Saizen(R) (Luveris(R) is not approved in the USA). In addition to being the world leader in reproductive health, Serono has strong market positions in neurology, metabolism and growth. The Company's research programs are focused on growing these businesses and on establishing new therapeutic areas. Currently, there are seventeen new molecules in development.
In 2001, Serono achieved worldwide revenues of US$1.38 billion, and a net income of US$317 million, making it the third largest biotech company in the world based on revenues. The Company operates in 45 countries, and its products are sold in over 100 countries. Bearer shares of Serono S.A., the holding company, are traded on the virt-x (SEO) and its American Depositary Shares are traded on the New York Stock Exchange (SRA).
About Cellular Genomics Inc.
Cellular Genomics Inc. (CGI) is a privately held genomics-based biopharmaceutical company that is pioneering a unique, highly integrated chemical genetics platform for drug discovery and development. The company's established platforms of functional genomic and proteomic technologies couple unprecedented rigor in the identification and validation of novel drug targets directly to unique drug discovery capabilities, including proprietary drug screens. The company has an established small molecule drug discovery program focused on discovering and developing kinase inhibitors targeting oncology and autoimmune/inflammatory diseases. CGI is leveraging all of these capabilities to discover and develop its own, internal drug development opportunities as well as to establish collaborative programs with pharmaceutical partners.
For more information, please contact:
Serono in Geneva, Switzerland:
Media Relations:
Tel: +41-22-739 36 00
Fax: +41-22-739 30 85
http://www.serono.com
Investor Relations:
Tel: +41-22-739 36 01
Fax: +41-22-739 30 22
Reuters: SEOZ.VX / SRA.N
Bloomberg: SEO VX / SRA US
Serono, Inc., Rockland, MA
Media Relations:
Tel. +1 781 681 2340
Fax: +1 781 681 2935
http://www.seronousa.com
For Cellular Genomics:
Cellular Genomics Inc.
Louis A. Matis, M.D.
President and CEO
(203) 315-1222
Rx Communications Group
Rhonda Chiger (Investors)
(917) 322-2569
Pete Holmberg (Media)
(917) 322-2164
SOURCE: Serono S.A.; Cellular Genomics Inc.
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