Celera Genomics Announces Oncology Collaboration
ROCKVILLE, MD - September 28, 2004
Celera Genomics Group (NYSE:CRA), an Applera Corporation business, today announced a collaboration with Genentech, Inc. (NYSE:DNA) to discover and develop targeted therapies for cancer. Genentech may develop various products against therapeutic targets licensed from Celera, including antibodies, antibody fragments, proteins or small molecule drugs.
Under the terms of the multi-year agreement, Celera Genomics will nominate a number of cell-surface antigens discovered and validated through its proprietary proteomic platform as potential therapeutic targets. Any of these antigens may be designated by Genentech for further validation and research to identify therapeutics for subsequent development solely by Genentech. Genentech shall make progress-dependent milestone payments to Celera Genomics, based on achievement of preclinical, clinical and commercial milestones, and shall pay royalties on net sales of any resulting therapeutic products. Celera Diagnostics, a joint venture between Celera Genomics and the Applied Biosystems Group (NYSE:ABI) of Applera, retains certain diagnostic rights associated with the designated targets.
“We are pleased to partner with Genentech, an established global leader in antibody technology and oncology,” said Kathy Ordoñez, President, Celera Genomics. “With its proven track record in the discovery, development and commercialization of novel treatments for cancer, Genentech has the expertise to develop targeted therapies against proteins that Celera has validated as potential therapeutic targets through its proteomics research.”
About Applera Corporation and Celera Genomics
Applera Corporation consists of two operating groups. The Celera Genomics Group is engaged principally in the discovery and development of targeted therapeutics for cancer, autoimmune and inflammatory diseases. Celera Genomics is leveraging its proteomic, bioinformatic, and genomic capabilities to identify and validate drug targets, and to discover and develop small molecule therapeutics. It is also seeking to advance therapeutic antibody and selected small molecule drug programs in collaboration with global technology and market leaders. The Applied Biosystems Group (NYSE:ABI) serves the life science industry and research community by developing and marketing instrument-based systems, consumables, software, and services. Customers use these tools to analyze nucleic acids (DNA and RNA), small molecules, and proteins to make scientific discoveries, develop new pharmaceuticals, and conduct standardized testing. Applied Biosystems is headquartered in Foster City, CA, and reported sales of $1.7 billion during fiscal 2004. Celera Diagnostics, a 50/50 joint venture between Applied Biosystems and Celera Genomics, is focused on discovery, development, and commercialization of diagnostic products. Information about Applera Corporation, including reports and other information filed by the company with the Securities and Exchange Commission, is available at www.applera.com, or by telephoning 800.762.6923. Information about Celera Genomics is available at www.celera.com.
Certain statements in this press release are forward-looking. These may be identified by the use of forward-looking words or phrases such as “believe,” “expect,” “intend,” “anticipate,” “should,” “planned,” and “potential,” among others. The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for such forward-looking statements. In order to comply with the terms of the safe harbor, Applera Corporation notes that a variety of factors could cause actual results and experience to differ materially from the anticipated results or other expectations expressed in such forward-looking statements. The risks and uncertainties include but are not limited to: (1) unproven suitability of cell surface proteins discovered by Celera Genomics as targets for therapeutic antibodies; (2) Genentech’s payment of milestones to Celera Genomics will vary based on actual results and the achievement of preclinical, clinical and commercial milestones; (3) the possibility that Celera Genomics may not receive any royalty payments under this agreement, in the event no therapeutic products are developed based on the Celera targets; (4) the risk that products developed under this agreement, if any, will not advance as anticipated, or may not receive required regulatory clearances or approvals; (5) the possibility that any products developed under this agreement, if any, will be accepted and/or adopted by the market, including the risk that that these products may not be competitive with products offered by other companies, or that users may not be entitled to receive adequate reimbursement for these products from third party payors such as private insurance companies and government insurance plans; and (6) other factors that might be described from time to time in Applera Corporation’s filings with the Securities and Exchange Commission. All information in this press release is as of the date of the release, and Applera does not undertake any duty to update this information, including any forward-looking statements, unless required by law.
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