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Trimeris And Array Biopharma Sign Antiviral Drug Discovery Agreement
– Collaboration to target discovery and development of small molecule fusion inhibitors of HIV and RSV –
DURHAM, N.C., and BOULDER, Colo. (August 6, 2001) – Trimeris, Inc. (Nasdaq: TRMS) and Array BioPharma Inc. (Nasdaq: ARRY) today announced the signing of an agreement to discover small molecule fusion inhibitors of human immunodeficiency virus (HIV) and respiratory syncytial virus (RSV).
“Trimeris is blazing a new therapeutic trail with its leadership in the development of fusion inhibitors for the treatment of these viral diseases,” said Dani P. Bolognesi, CEO and co-founder, Trimeris. “This collaborative agreement with Array BioPharma will enable Trimeris to supplement its own small molecule research program.” Trimeris is currently co-developing two fusion inhibitor peptides, T-20 and T-1249, for the treatment of HIV, in collaboration with F. Hoffmann-La Roche Ltd.
Under the terms of the agreement, Trimeris will initially screen a library of small molecule compounds provided by Array against HIV and RSV fusion protein targets. Array will use its drug discovery platform to optimize lead compounds. The companies will collaborate to identify preclinical candidates and Trimeris will be responsible for further development. Array will provide the initial library of compounds on a non-exclusive basis and will work exclusively with Trimeris on the HIV and RSV fusion protein targets during the term of the collaboration. On a non-exclusive basis, Trimeris will work with Array on these targets. Array will be entitled to receive payments and royalties based on achievement of certain developmental and commercial milestones.
“We are excited about the opportunity to collaborate with Trimeris to help fully exploit the value of their broadly applicable fusion inhibitor technology,” said Kevin Koch, Ph.D., President and Chief Science Officer at Array. “This agreement combines Array’s strength in the structural design of novel small molecule drugs with Trimeris’ expertise in fusion inhibition.”
About Viral Fusion
Viral fusion is a complex process by which viruses attach to and penetrate host cells. If a virus cannot enter a host cell, it cannot replicate. By inhibiting the fusion process of certain types of viruses, fusion inhibitors offer a novel mechanism of action to potentially treat medically important viral diseases.
About Trimeris, Inc.
Trimeris is a development stage, biopharmaceutical company engaged in the discovery and development of novel therapeutic agents that block viral infection by inhibiting viral fusion with host cells. Trimeris' lead product candidate, T-20, which inhibits fusion of the human immunodeficiency virus (HIV) with host cells, is currently in Phase III clinical trials and has received fast-track designation from the FDA. Trimeris' second fusion inhibitor product candidate, T-1249, which also inhibits HIV fusion, has received fast-track designation from the FDA and is in Phase I/II clinical testing.
For more information on Trimeris, Inc., visit the company's Web site at www.trimeris.com.
About Array BioPharma Inc.
Array BioPharma is a drug discovery company creating new drugs through innovations in chemistry and structural biology. Array's world-class scientific team integrates chemistry and structural biology with an information-based technology platform to create higher quality drug candidates. Array provides drug discovery expertise to collaborators and for its own proprietary research.
For more information on Array BioPharma, please visit the company's web site at www.arraybiopharma.com.
Trimeris Safe Harbor Statement
Note: Except for any historical information presented herein, matters presented in this release are forward-looking statements that involve risks and uncertainties. The results of Trimeris' previous clinical trials are not necessarily indicative of future clinical trials, and future results could differ materially from the results presented herein. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the "Risk Factors" section included in Trimeris' Form 10-K/A for the year ended December 31, 2000, filed with the Securities and Exchange Commission on July 24, 2001.
Array BioPharma Safe Harbor Statement
Note: This press release contains projections and other forward-looking statements that involve significant risks and uncertainties, based on our current expectations concerning future events. Actual results could differ materially from those anticipated in these forward-looking statements as a result of many factors including, but not limited to, the identification of successful fusion protein targets and our ability to achieve milestones under the Trimeris agreement, as well as the risk factors contained in our reports filed with the Securities and Exchange Commission, including our final prospectus as filed on November 17, 2000. We are providing this information as of August 6, 2001. We undertake no duty to update any forward-looking statements to reflect the occurrence of events or circumstances after the date of such statements or of anticipated or unanticipated events that alter any assumptions underlying such statements.