Progenics Pharmaceuticals and Roche Renew Collaboration to Identify And Develop Novel HIV Therapeutics

- Small Molecules are Designed to Block Virus before Infection Occurs -



Apr 27, 2001, 01:00 ET from Progenics Pharmaceuticals, Inc. and Roche

    TARRYTOWN, N.Y., and BASEL, Switzerland, April 27 /PRNewswire/ --
 Progenics Pharmaceuticals, Inc. (Nasdaq:   PGNX) and Roche have announced the
 renewal of their research collaboration to discover and develop novel HIV
 (human immuno deficiency virus) therapeutics. The goal of the program is to
 identify drugs that target HIV coreceptors -- molecular structures on the cell
 membrane that are used by the virus to gain entry into the cell. The original
 agreement was announced in January 1998.
     (Logo:  http://www.newscom.com/cgi-bin/prnh/20010410/PROGENICS )
     "We welcome the opportunity to extend our agreement with Progenics
 Pharmaceuticals for two more years, during which time we expect to advance the
 development of novel, orally active inhibitors of HIV entry," said Jonathan
 Knowles, President of Global Research at Roche. "The alliance with Progenics
 is one of a number of important collaborations to find and develop innovative
 and potent new antivirals. There is a great need for anti-HIV drugs with
 different modes of action, since today there is no cure for AIDS, and the
 development of resistant virus limits current therapy. The combination of
 Roche's leadership in the area of HIV and Progenics' pioneering work in HIV
 biology should result in the next generation of HIV therapeutics -- drugs that
 block the virus from entering and infecting cells."
     Under the terms of the agreement, Roche has received from Progenics an
 exclusive worldwide license to its HIV coreceptor technology in exchange for
 up-front and milestone payments, research funding, as well as royalty payments
 on the sale of any products commercialized as a result of the collaboration.
 Financial terms of the extended agreement were not disclosed.
     Roche is a leader in the area of HIV therapeutics and diagnostics. Roche
 was the first company to develop HIV protease inhibitors, the new class of
 drugs that set a paradigm in the treatment of HIV. Roche also developed the
 PCR-based Amplicor tests which set new standards for diagnosis of HIV
 infection and treatment monitoring.
     Headquartered in Basel, Switzerland, Roche is one of the world's leading
 research-oriented healthcare groups in the fields of pharmaceuticals,
 diagnostics and vitamins. Roche's innovative products and services address
 prevention, diagnosis and treatment of disease, thus enhancing people's
 well-being and quality of life.
     Progenics is a leader in the area of HIV co-receptors and fusion research.
 Together with researchers at the Aaron Diamond AIDS Research Center in New
 York City, Progenics' scientists discovered a key coreceptor for HIV on the
 surface of human immune system cells. This coreceptor, CCR5, mediates fusion
 of HIV with the target cell membrane after the virus binds to CD4, the
 principal receptor, which was also discovered by Progenics. This fusion step
 is required for the entry of viral genetic information into the cell and
 subsequent viral replication.
 
     Progenics Pharmaceuticals, Inc., is a biopharmaceutical company focusing
 on the development and commercialization of products for the treatment and
 prevention of viral, cancer, and other life-threatening diseases. The Company
 applies its immunological expertise to develop biopharmaceuticals to fight
 viral diseases, such as human immunodeficiency virus (HIV) infections, and
 cancers, such as malignant melanoma and prostate cancer. The Company has
 initiated Phase II clinical trials of its lead HIV product, PRO 542, a
 viral-entry inhibitor. The Company is developing follow-on product candidates
 in HIV infection: PRO 367 has completed a Phase I study, PRO 140 is preparing
 to commence Phase I/II trials, and a lead therapeutic candidate has been
 selected from a novel class of anti-HIV compounds known as sulfated CCR5
 peptides. The Company is also engaged in programs to discover and develop
 small-molecule HIV therapeutics that target the fusion co-receptors of the
 virus and other programs focusing on HIV attachment and fusion. The Company is
 developing cancer immunotherapies based on PSMA (prostate specific membrane
 antigen) technology. The Company's most clinically advanced product, GMK, is a
 cancer vaccine in a pivotal Phase III clinical trial for the treatment of
 malignant melanoma. Progenics is also prepared to commence Phase II trials
 with a second cancer vaccine, MGV, with broad application to a variety of
 cancers. The Company is also developing a novel small-molecule antioxidant,
 dehydroascorbic acid (DHA), to treat stroke and other disorders.
 
     This press release contains forward-looking statements. Any statements
 contained herein that are not statements of historical fact may be
 forward-looking statements. When the Company uses the words 'anticipates,'
 'plans,' 'expects' and similar expressions they are identifying
 forward-looking statements. Such forward-looking statements involve risks and
 uncertainties which may cause the Company's actual results, performance or
 achievements to be materially different from those expressed or implied by
 forward-looking statements. Such factors include, among others, the
 uncertainties associated with product development, the risk that clinical
 trials will not commence when or proceed as planned, the risks and
 uncertainties associated with dependence upon the actions of the Company's
 corporate, academic and other collaborators and of government regulatory
 agencies, the risk that products that appear promising in early clinical
 trials do not demonstrate efficacy in larger-scale clinical trials, the
 uncertainty of future profitability and other factors set forth more fully in
 the Company's Annual Report on Form 10-K for the fiscal year ended
 December 31, 2000 and other periodic filings with the Securities and Exchange
 Commission to which investors are referred for further information. In
 particular, the Company cannot assure you that any of the their programs will
 result in a commercial product. The Company does not have a policy of updating
 or revising forward-looking statements, and thus it should not be assumed that
 the Company's silence over time means that actual events are bearing out as
 expressed or implied in such forward-looking statements.
 
     Editor's Note:
     Additional information Progenics Pharmaceuticals is available at
 http://www.progenics.com
 
     This release is available on the Internet at http://www.noonanrusso.com
 
                     MAKE YOUR OPINION COUNT -- Click Here
                http://tbutton.prnewswire.com/prn/11690X48275135
 
     Contacts:
     Progenics Pharmaceuticals, Inc.          Noonan/Russo Communications, Inc.
     Richard W. Krawiec, Ph.D.                Emily Poe
     Vice President, Investor Relations and   212-696-4455, ext. 221
     Corporate Communications                 e.poe@noonanrusso.com
     914-789-2800
     rkrawiec@progenics.com
 
 

SOURCE Progenics Pharmaceuticals, Inc. and Roche
    TARRYTOWN, N.Y., and BASEL, Switzerland, April 27 /PRNewswire/ --
 Progenics Pharmaceuticals, Inc. (Nasdaq:   PGNX) and Roche have announced the
 renewal of their research collaboration to discover and develop novel HIV
 (human immuno deficiency virus) therapeutics. The goal of the program is to
 identify drugs that target HIV coreceptors -- molecular structures on the cell
 membrane that are used by the virus to gain entry into the cell. The original
 agreement was announced in January 1998.
     (Logo:  http://www.newscom.com/cgi-bin/prnh/20010410/PROGENICS )
     "We welcome the opportunity to extend our agreement with Progenics
 Pharmaceuticals for two more years, during which time we expect to advance the
 development of novel, orally active inhibitors of HIV entry," said Jonathan
 Knowles, President of Global Research at Roche. "The alliance with Progenics
 is one of a number of important collaborations to find and develop innovative
 and potent new antivirals. There is a great need for anti-HIV drugs with
 different modes of action, since today there is no cure for AIDS, and the
 development of resistant virus limits current therapy. The combination of
 Roche's leadership in the area of HIV and Progenics' pioneering work in HIV
 biology should result in the next generation of HIV therapeutics -- drugs that
 block the virus from entering and infecting cells."
     Under the terms of the agreement, Roche has received from Progenics an
 exclusive worldwide license to its HIV coreceptor technology in exchange for
 up-front and milestone payments, research funding, as well as royalty payments
 on the sale of any products commercialized as a result of the collaboration.
 Financial terms of the extended agreement were not disclosed.
     Roche is a leader in the area of HIV therapeutics and diagnostics. Roche
 was the first company to develop HIV protease inhibitors, the new class of
 drugs that set a paradigm in the treatment of HIV. Roche also developed the
 PCR-based Amplicor tests which set new standards for diagnosis of HIV
 infection and treatment monitoring.
     Headquartered in Basel, Switzerland, Roche is one of the world's leading
 research-oriented healthcare groups in the fields of pharmaceuticals,
 diagnostics and vitamins. Roche's innovative products and services address
 prevention, diagnosis and treatment of disease, thus enhancing people's
 well-being and quality of life.
     Progenics is a leader in the area of HIV co-receptors and fusion research.
 Together with researchers at the Aaron Diamond AIDS Research Center in New
 York City, Progenics' scientists discovered a key coreceptor for HIV on the
 surface of human immune system cells. This coreceptor, CCR5, mediates fusion
 of HIV with the target cell membrane after the virus binds to CD4, the
 principal receptor, which was also discovered by Progenics. This fusion step
 is required for the entry of viral genetic information into the cell and
 subsequent viral replication.
 
     Progenics Pharmaceuticals, Inc., is a biopharmaceutical company focusing
 on the development and commercialization of products for the treatment and
 prevention of viral, cancer, and other life-threatening diseases. The Company
 applies its immunological expertise to develop biopharmaceuticals to fight
 viral diseases, such as human immunodeficiency virus (HIV) infections, and
 cancers, such as malignant melanoma and prostate cancer. The Company has
 initiated Phase II clinical trials of its lead HIV product, PRO 542, a
 viral-entry inhibitor. The Company is developing follow-on product candidates
 in HIV infection: PRO 367 has completed a Phase I study, PRO 140 is preparing
 to commence Phase I/II trials, and a lead therapeutic candidate has been
 selected from a novel class of anti-HIV compounds known as sulfated CCR5
 peptides. The Company is also engaged in programs to discover and develop
 small-molecule HIV therapeutics that target the fusion co-receptors of the
 virus and other programs focusing on HIV attachment and fusion. The Company is
 developing cancer immunotherapies based on PSMA (prostate specific membrane
 antigen) technology. The Company's most clinically advanced product, GMK, is a
 cancer vaccine in a pivotal Phase III clinical trial for the treatment of
 malignant melanoma. Progenics is also prepared to commence Phase II trials
 with a second cancer vaccine, MGV, with broad application to a variety of
 cancers. The Company is also developing a novel small-molecule antioxidant,
 dehydroascorbic acid (DHA), to treat stroke and other disorders.
 
     This press release contains forward-looking statements. Any statements
 contained herein that are not statements of historical fact may be
 forward-looking statements. When the Company uses the words 'anticipates,'
 'plans,' 'expects' and similar expressions they are identifying
 forward-looking statements. Such forward-looking statements involve risks and
 uncertainties which may cause the Company's actual results, performance or
 achievements to be materially different from those expressed or implied by
 forward-looking statements. Such factors include, among others, the
 uncertainties associated with product development, the risk that clinical
 trials will not commence when or proceed as planned, the risks and
 uncertainties associated with dependence upon the actions of the Company's
 corporate, academic and other collaborators and of government regulatory
 agencies, the risk that products that appear promising in early clinical
 trials do not demonstrate efficacy in larger-scale clinical trials, the
 uncertainty of future profitability and other factors set forth more fully in
 the Company's Annual Report on Form 10-K for the fiscal year ended
 December 31, 2000 and other periodic filings with the Securities and Exchange
 Commission to which investors are referred for further information. In
 particular, the Company cannot assure you that any of the their programs will
 result in a commercial product. The Company does not have a policy of updating
 or revising forward-looking statements, and thus it should not be assumed that
 the Company's silence over time means that actual events are bearing out as
 expressed or implied in such forward-looking statements.
 
     Editor's Note:
     Additional information Progenics Pharmaceuticals is available at
 http://www.progenics.com
 
     This release is available on the Internet at http://www.noonanrusso.com
 
                     MAKE YOUR OPINION COUNT -- Click Here
                http://tbutton.prnewswire.com/prn/11690X48275135
 
     Contacts:
     Progenics Pharmaceuticals, Inc.          Noonan/Russo Communications, Inc.
     Richard W. Krawiec, Ph.D.                Emily Poe
     Vice President, Investor Relations and   212-696-4455, ext. 221
     Corporate Communications                 e.poe@noonanrusso.com
     914-789-2800
     rkrawiec@progenics.com
 
 SOURCE  Progenics Pharmaceuticals, Inc. and Roche