|
Media Releases |
Financial Reports |
Presen-tations |
|
06/05/1999
|
|
|
|
| Lonza Biologics, a subsidiary of algroup lonza fine chemicals and specialties, and Genzyme Transgenics Corporation (Nasdaq: GZTC), today announced that the companies signed a letter of intent to establish a strategic alliance to develop purification and production methods for therapeutic proteins, including monoclonal antibodies. |
| Basel, Portsmouth, NH, May 18, 1999 - Based upon the achievement of mutually-defined goals and objectives, Lonza Biologics's corporate parent, algroup, has the intention to make a significant equity investment in Genzyme Transgenics' common stock. Formation of the strategic alliance allows Genzyme Transgenics to access Lonza Biologics' existing infrastructure for downstream protein purification, delaying the necessity for substantial capital investments by Genzyme Transgenics at this time. The potential equity investment by algroup can enable Genzyme Transgenics to make additional investments in internal research and development programs to further its leadership position in cutting-edge transgenic technology. |
| Based upon the achievement of mutually-defined goals and objectives, Lonza Biologics's corporate parent, algroup, has the intention to make a significant equity investment in Genzyme Transgenics' common stock. Formation of the strategic alliance allows Genzyme Transgenics to access Lonza Biologics' existing infrastructure for downstream protein purification, delaying the necessity for substantial capital investments by Genzyme Transgenics at this time. The potential equity investment by algroup can enable Genzyme Transgenics to make additional investments in internal research and development programs to further its leadership position in cutting-edge transgenic technology. |
"The alliance with Lonza Biologics solidifies Genzyme Transgenics' leadership position in the production of therapeutic proteins using transgenic technology," said Sandra Nusinoff Lehrman, M.D., president and chief executive officer of Genzyme Transgenics. "Genzyme Transgenics' expertise in transgenic protein development, combined with Lonza's extensive experience in downstream processing, will facilitate the development of innovative therapies with the potential to treat major human illnesses."
"The remarkable technical strengths of the two companies will strongly position us to meet the expected demand for efficient large-scale purification of therapeutic proteins," said Ed Robinson, president of Lonza Biologics. "This collaboration leverages our leading capabilities in mammalian cell culture, and aligns us with the premier transgenics company." |
| The companies anticipate that initial activities will focus on large-scale purification methods for transgenic proteins and monoclonal antibodies under development within Genzyme Transgenics' product pipeline. Technical representatives from both Genzyme Transgenics and Lonza Biologics will explore methods to optimize and enable rapid, efficient, and low-cost production of preclinical and clinical-grade materials as well as downstream processing methods for commercial production. |
| Genzyme Transgenics Corporation applies transgenic technology to enable the development and production of recombinant proteins and monoclonal antibodies for medical uses. Primedica Corporation, Genzyme Transgenics' contract organization, provides preclinical development and testing to pharmaceutical, biotechnology, medical device and other companies. Genzyme Transgenics Corporation is also developing idiotypic vaccines in collaboration with the National Cancer Institute. |
| Lonza Biologics is part of the algroup division lonza fine chemicals and specialtiers and the world's leader in contract development and production of recombinant proteins. The company undertakes highly specialized services for the pharmaceutical and biotechnology industries based on its nearly 20 years of experience in mammalian cell culture and on proprietary technology for the large scale manufacture of innovative pharmaceutical products. With headquarters in the United Kingdom, Lonza Biologics operates cGMP multi-product manufacturing facilities in Slough, United Kingdom and Portsmouth, New Hampshire. |
| Algroup lonza fine chemicals and specialties is a division of the Alusuisse Lonza Group Ltd which is publicly owned and headquartered in Zurich, Switzerland. The division is serving worldwide markets with high-value-added industrial products. Its principal areas of business include fine chemicals for the pharmaceutical, agrochemical, nutrition and feed industries as well as specialty chemicals and engineering plastics. Having contributed to the emerging role of biotechnology in the life-science industries since 1983, algroupo lonza is now the largest custom manufacturer in the biotechnological field, utilizing synergies derived from its specialized subsidiaries. |
This news release contains forward-looking statements that involve risks and uncertainties. The Company's actual results may differ materially from those anticipated in these forward-looking statements. Factors that may cause such differences include, but are not limited to, the ability of Genzyme Transgenics and Lonza Biologics to enter into a formal contract, the ability of Genzyme Transgenics to meet mutually defined objectives which would trigger equity investment by Lonza, the uncertainties associated with product development, the risk that clinical trials will not commence when planned, and the risks and uncertainties associated with dependence upon the actions of government and regulatory agencies. Editor's Note: Genzyme Transgenics Corporation's releases are available on the World Wide Web at http://www.genzyme.com/transgenics. Information about Lonza Biologics is available at http://www.lonza.com.
Visit representatives from Genzyme Transgenics (Booth #142) and Lonza Biologics (Booths 603 & 605) at BIO'99 International Biotechnology Meeting and Exhibition in Seattle, Washington during May 16-20. Scientists from Genzyme Transgenics will be participating in a BIO panel meeting entitled "Technical Advances Toward Commercialization of Transgenic Biopharmaceuticals" from 10:30 a.m. to 12 Noon on Tuesday, May 18. |
For further information please contact:
Dr. Walter Eschenmoser
Lonza Ltd., Basel, Switzerland
t + 41 61 316 83 63
f + 41 61 316 93 63
walter.eschenmoser@lonzagroup.com
Genzyme Transgenics Corporation
Sandra Nusinoff Lehrman,
M.D. President and CEO
508-872-8400 ext. 2061
Burns McClellan,
Inc. Miriam Weber (media) John Nugent (investors) 212-213-0006
|
|
|
