BERKELEY HEIGHTS, N.J. and MANCHESTER, England, December
23, 2002
-- Genta Incorporated (Nasdaq: GNTA - News) and Avecia announced
that the two companies have signed a five year agreement for the
manufacturing and supply of active pharmaceutical ingredient (API)
for Genasense(TM) (oblimersen sodium), Genta"s lead anticancer
drug. The new agreement provides for sufficient quantities of API
to accommodate both existing and new clinical trials, as well as
quantities of Genasense for world-wide commercial launch.
Genta and Avecia initiated their first
manufacturing agreement in 2001, under which Avecia has supplied
API for the Company"s world-wide clinical trials. Avecia"s
biotechnology facility in Milford, MA has been and will continue to
be the primary source of supply for Genasense.
Genasense is comprised of a short strand of DNA
bases (called oligonucleotides), which has been chemically modified
and carefully synthesized to bind a specific region of RNA. The
manufacturing process involves a series of chemical reactions that
link 18 oligonucleotides to form the final product.
"As our requirements for drug supply have
progressively increased, we"ve enjoyed a highly productive
relationship with Avecia during the last several years," said Dr.
Raymond P. Warrell, Jr., Genta"s Chief Executive Officer. "Avecia
is the largest manufacturer of oligonucleotide-based drugs. Given
the high volume projections for Genasense, the ability to attain
critical scale in manufacturing and to maintain world-class quality
standards -- factors that are embodied in these agreements --
should yield key competitive advantages for Genasense in the
marketplace."
"Genta is Avecia"s largest customer in this new and
rapidly developing area of high-value DNA-based medicines," said
Jeremy Scudamore, Avecia"s Chief Executive Officer. He added, "This
agreement reflects our commitment to customers based on our global
capabilities as a leading manufacturing partner to the
biotechnology sector."
About Genasense
Genasense(TM) works by inhibiting the production of
Bcl-2, a protein made by cancer cells that is thought to block
chemotherapy-induced cell death. By reducing the amount of Bcl-2 in
cancer cells, Genasense may enhance the effectiveness of current
anticancer treatments. Genasense is currently in multiple,
late-stage, randomized clinical trials in patients with malignant
melanoma, multiple myeloma, chronic lymphocytic leukemia (CLL), and
non-small cell lung cancer. Genasense is being developed in
collaboration with Aventis.
About Genta
Genta Incorporated is a biopharmaceutical company
with a diversified product portfolio that is focused on anticancer
therapy. The Company"s research platform is anchored by
oligonucleotide chemistry, particularly applications of antisense
and decoy aptamer technology. Genasense(TM), the Company"s lead
compound, is currently undergoing late-stage, Phase 3 clinical
testing in several clinical indications. Genta"s pipeline also
comprises a portfolio of small molecules, including
gallium-containing compounds and Androgenics compounds for prostate
cancer. For more information about Genta, please visit our website
at:
http://www.genta.com/
.
About Avecia
Avecia is a leading global fine and specialty
chemicals company focused on delivering innovative technology and
service excellence to customers across a range of high technology
industries. Avecia"s on-going success is based on a long track
record of innovation and service excellence. With over $500 million
invested across 17 advanced research, technical service and
manufacturing sites in recent years, Avecia operates globally at
the leading edge of technology in its chosen fields. With unique
capabilities in organic chemistry, biological & polymer
sciences and process technology, each of our business sectors
offers bespoke products and services to our global customers,
supported by highly focused technical expertise. For more
information about Avecia, please visit our website at:
http://www.avecia.com/
.
The statements contained in this press release that are not
historical are forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended,
including statements regarding the expectations, beliefs,
intentions or strategies regarding the future. Without limiting
the foregoing, the words "anticipates," "believes," "expects,"
"intends," "may" and "plans" and similar expressions are intended
to identify forward-looking statements. The Company intends that
all forward-looking statements be subject to the safe harbor
provisions of the Private Securities Litigation Reform Act of
1995. These forward-looking statements reflect the Company"s
views as of the date they are made with respect to future events,
but are subject to many risks and uncertainties, which could
cause the actual results of the Company to differ materially from
any future results expressed or implied by such forward-looking
statements. For example, the results obtained in pre-clinical or
clinical studies may not be indicative of results that will be
obtained in future clinical trials, and delays in the initiation
or completion of clinical trials may occur as a result of many
factors. Further examples of such risks and uncertainties also
include, but are not limited to: the obtaining of sufficient
financing to maintain the Company"s planned operations; timely
development, receipt of necessary regulatory approvals, and
acceptance of new products; the successful application of the
Company"s technology to produce new products; the obtaining of
proprietary protection for any such technology and products; the
impact of competitive products and pricing and reimbursement
policies; and changing market conditions. The Company does not
undertake to update forward-looking statements. Although the
Company believes that the forward-looking statements contained
herein are reasonable, it can give no assurances that the
Company"s expectations are correct. All forward looking
statements are expressly qualified in their entirety by this
cautionary statement and other factors detailed in the Company"s
reports filed with the Securities and Exchange Commission.
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