SOURCE: Targeted Genetics

March 06, 2007 14:27 ET

New Targeted Genetics Patent Provides Broad Coverage of Vectors Based on AAV Serotype 1

SEATTLE, WA -- (MARKET WIRE) -- March 6, 2007 -- Targeted Genetics Corporation (NASDAQ: TGEN) today announced the issuance of an additional patent covering the company's adeno-associated virus (AAV) vector technology. The patent, U.S. #7,186,552 titled "Adeno-Associated Virus (AAV) Serotype I Nucleic Acid Sequences, Vectors and Host Cells Containing Same" describes the use of AAV vectors that contain the inverted terminal repeat (ITR) and capsid sequences derived from AAV serotype 1 (AAV1) and host cells transduced with such vectors. The patent was issued to the University of Pennsylvania and is exclusively licensed to Targeted Genetics.

"This patent provides additional coverage for our AAV1 vector platform. Our previously issued AAV1 patents covered pseudotyped vectors with capsid sequences derived from AAV1 with or without the AAV1 ITR sequences," said H. Stewart Parker, president and chief executive officer of Targeted Genetics. "These pseudotyped vectors expressing AAV1 capsid sequences have been shown to have higher transduction efficiencies than vectors based on other serotypes. Consequently, numerous players in the AAV field are moving toward the use of pseudotyped AAV1 vectors. The current patent covers development of an AAV1 serotype specific vector that would contain both the AAV1 capsid and the AAV1 ITR sequences as a potential second generation of AAV1 vectors."

Targeted Genetics was the first to bring AAV vectors into clinical trials. AAV is a naturally occurring virus that is not associated with any disease in humans. AAV vectors can efficiently deliver genetic information to numerous cell types and can be engineered to carry a variety of DNA sequences. These vectors are highly stable, persist in cells for extended periods of time, and exhibit an extremely low frequency of integration into host-cell DNA.

About Targeted Genetics

Targeted Genetics Corporation is a biotechnology company committed to the development of innovative targeted molecular therapies for the prevention and treatment of acquired and inherited diseases with significant unmet medical need. Targeted Genetics' proprietary Adeno-Associated Virus (AAV) technology platform allows it to deliver genes that encode proteins to increase gene function or RNAi to decrease or silence gene function. Targeted Genetics' product development efforts target inflammatory arthritis, AIDS prophylaxis, congestive heart failure and Huntington's disease. To learn more about Targeted Genetics, visit Targeted Genetics' website at www.targetedgenetics.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

This release contains forward-looking statements regarding expected use of these proceeds, Targeted Genetics' business strategy, Targeted Genetics' product development and clinical trials, Targeted Genetics' liquidity, revenues from partners and contracts, and ability to meet its ongoing financial obligations and other statements about Targeted Genetics' plans, objectives, intentions and expectations. These statements, involve current expectations, forecasts of future events and other statements that are not historical facts. Inaccurate assumptions and known and unknown risks and uncertainties can affect the accuracy of forward-looking statements. Factors that could affect Targeted Genetics' actual results include, but are not limited to, the risk that Targeted Genetics' revenues or expense do not meet its current expectations, that its clinical trials and product development do not proceed as expected, the possibility that Targeted Genetics decides to use the proceeds from the offering for purposes other than those described above, as well as other risk factors described in "Part I, Item 1A. Risk Factors" in Targeted Genetics' most recent annual report on Form 10-K or "Part II, Item 1A. Risk Factors" in Targeted Genetics' most recent quarterly report on Form 10-Q filed with the Securities and Exchange Commission. You should not rely unduly on these forward-looking statements, which apply only as of the date of this release. Targeted Genetics undertakes no duty to publicly announce or report revisions to these statements as new information becomes available that may change its expectations.

Contact Information

  • Investor and Media Contact:
    Stacie D. Byars
    Director, Communications
    Targeted Genetics Corporation
    (206) 521-7392