SOURCE: Immusol, Inc.

August 16, 2005 08:00 ET

Immusol, Inc. Announces Collaboration

SAN DIEGO, CA -- (MARKET WIRE) -- August 16, 2005 -- Immusol today announced a three-year discovery, development and commercialization collaboration with Novartis. The agreement has the potential to exceed $78 million in payments to Immusol contingent upon the delivery of targets and compounds and upon the successful development of these compounds by Novartis.

Under the terms of the collaboration agreement, Immusol will leverage its proprietary gene inactivation technology to discover biologically validated drug targets for Novartis. Immusol's integrated approach, which can identify novel drug targets that have demonstrated phenotypical effects in a range of assays, will be utilized to focus on identifying pharmaceutically relevant drug targets from biological assays in defined systems. Novartis will use the biologically verified targets to develop compounds for its drug development pipeline.

"This alliance with Novartis is another confirmation of the power of Immusol's research technology to identify and validate novel drug target genes," said Flossie Wong-Staal, Ph.D., Immusol's Chief Scientific Officer and Executive Vice President of Research. The joint R&D effort will be co-managed by research groups at Novartis and Immusol.

Immusol is a privately held San Diego-based biopharmaceutical company engaged in the discovery and development of novel therapies to treat human diseases. Immusol uses an integrated approach, starting with a proprietary discovery technology, to identify therapeutic molecules involved in the areas of cancer, viral infection and ophthalmology. Based on these discoveries, Immusol develops small molecule and protein-based therapies alone or in collaboration with drug development partners. Immusol's lead drug candidate, ChelASE, is being studied in clinical trials for the treatment of keloids and hypertrophic scars. Other drug candidates are in various stages of development.

Contact Information

  • Contact:
    Gerard A. Wills
    Chief Financial Officer
    Immusol, Inc.
    (858) 824-1100