Business Wire - July 18, 2002
Under the agreement, ViroLogic's proprietary assays will be used to evaluate the ability of hNM01 to reduce the infectivity of various strains of HIV. hNM01 is a humanized monoclonal antibody that binds to the envelope protein of HIV. This binding leads to enhanced recognition of the virus by the host's immune system, and eventual destruction of the virus. In the laboratory, this will be measured by the ability of hNM01 to prevent the attachment of HIV to the surface of the cells it is normally able to infect. There are no material obligations of either party under the collaborative terms of this agreement.
"Immune Network's infectious disease projects are focused on new approaches to the treatment of chronic viral infections through modulation of the immune system" said Dr. Brian Conway, MD, FRCPC, of the University of British Columbia, who also directs the research program in infectious diseases at Immune Network. "We are very excited about the technology being developed by ViroLogic for the evaluation of antibody therapies against viral disease. We feel that this collaboration will be the beginning of a long relationship between Immune Network and ViroLogic that will be important in supporting the ongoing development of hNM01 and other compounds under study by Immune Network."
Immune Network is seeking to establish collaborations with a number of academic, government and corporate partners to develop a comprehensive research program on hNM01. In particular, plans are underway to re-initiate a phase I clinical study of the compound which will assess the safety of this compound. This was initially begun in 1999 under the leadership of Dr. Bruce Dezube, at Harvard University, and regulatory approval remains in place to allow this to occur without significant delay. Four patients have received hNM01 with no dose limiting or adverse effects. The re-initiation of manufacturing of hNM01, which is planned for the third quarter of this year, will allow for the completion of this trial.
"We are pleased to be working with Immune Network on its novel approach to HIV treatment," said Nicholas Hellmann, M.D., Vice President of Clinical Research at ViroLogic. "This agreement further demonstrates the valuable role our cutting-edge technologies and expertise can play in the development of promising new drugs for viral diseases."
About Immune Network
Immune Network is a public company based in Vancouver, Canada. The current focus of Immune Network is its Alzheimer disease project, in which a 52-week clinical trial was completed in June. Its infectious disease efforts are focused on the development of monoclonal antibodies to treat chronic viral infections through modulation of the immune system. Immune Network's portfolio of monoclonal antibody technologies presents a novel approach to an industry searching for solutions for increased resistance against conventional pharmaceutical approaches by rapidly mutating viruses, drug toxicity issues and the inability to find a cure for various chronic viral diseases.
About ViroLogic
ViroLogic is a biotechnology company advancing individualized medicine by discovering, developing and marketing innovative products to guide and improve treatment of serious viral diseases such as AIDS and hepatitis. The Company's products are designed to help doctors optimize treatment regimens for their patients that lead to better outcomes and reduced costs. The Company's technology is also being used by numerous biopharmaceutical companies to develop new and improved antiviral therapeutics and vaccines targeted at emerging drug-resistant viruses.
On behalf of the Board of Directors
Allen Bain, Ph.D., CEO
Legal Notice Regarding Forward-Looking Statements
Statements in this press release which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this release include but are not limited to Immune Network's plan to enter into collaborations with a number of academic, government and corporate partners to develop a comprehensive research program on hNM01, its plan to re-initiate a phase I clinical study of hNM01, and its plan to re-initiate manufacturing of hNM01 in the third quarter of this year. In addition there can be no assurance that combinations of monoclonal antibodies will prove to be an important advance in the approach to the treatment of HIV-1 infection.
It is important to note that Immune Network's actual results and outcomes may differ materially from those contained in the forward-looking statements contained in this press release. Factors that could cause actual results to differ materially include, but are not limited to, risks and uncertainties such as: receipt of all necessary regulatory approvals; the continued financing of our operations; and the overall success of Immune Network in general.
Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Readers should refer to the risk disclosures outlined in Immune Network's annual report on Form 20-F for the fiscal year ended December 31, 2001 filed with the Securities and Exchange Commission.
CONTACT: Immune Network Ltd. Investor Relations, 604/733-6623 or Toll Free 1-877-644-5541 Email: info@immunenetwork.com Website: www.immunenetwork.com or ViroLogic, Inc. Karen Wilson, 650/624-4164 Email: kwilson@virologic.com Website: www.virologic.com
SOURCE: Immune Network Ltd.
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