Valentis Licenses GeneSwitch(TM) Technology to GlaxoSmithKline for Functional Genomics Research

Apr 12, 2001, 01:00 ET from Valentis, Inc.

    BURLINGAME, Calif., April 12 /PRNewswire/ -- Valentis, Inc. (Nasdaq:  VLTS)
 today announced that it has granted a non-exclusive license of the Company's
 GeneSwitch(TM) gene regulation technology to GlaxoSmithKline (NYSE:   GSK) for
 use in functional genomics research.  The non-exclusive license is for
 research purposes only, and no financial terms were disclosed.  Valentis
 maintains all rights to clinical gene therapy applications of the
 GeneSwitch(TM) technology.
     The GeneSwitch(TM) system allows researchers to control the level and
 duration of selected genes in transgenic animals and cell cultures, aiding in
 the identification and characterization of a gene's function.  Valentis is
 currently developing the GeneSwitch(TM) system as a component of a regulated
 erythropoietin gene medicine that is expected to begin clinical testing next
 year.
     "The license to GlaxoSmithKline represents the second commercial license
 of the GeneSwitch(TM) technology to pharmaceutical companies for their
 internal commercial research efforts that we have completed this year," stated
 Gregory M. McKee, Valentis' Senior Director of Business Development.  "We have
 also made the GeneSwitch(TM) system available to the academic research
 community through a license to Invitrogen Corp. (Nasdaq:   IVGN), and expect to
 conclude a number of similar licenses over the next year.  We believe the
 GeneSwitch(TM) technology will accelerate the throughput of genomics research
 because it has the unique ability to completely control gene expression and
 assist in the identification and characterization of the function of selected
 genes."
     Further technical and licensing information on the GeneSwitch(TM)
 technology can be found at www.geneswitch.com or www.valentis.com.
     Valentis, Inc. is a leader in the field of biopharmaceutical delivery.
 The Company develops a broad array of products, proprietary technologies and
 intellectual property and applies its preclinical and early clinical
 development expertise to create novel therapeutics and improved versions of
 existing marketed biopharmaceuticals.  Valentis' core technologies include
 multiple gene delivery and gene expression systems and PEGylation technologies
 designed to improve the safety, efficacy and dosing characteristics of genes,
 proteins, peptides, peptidomimetics, antibodies, replicating and non
 replicating viruses and liposomes.  The Company focuses its research and
 development efforts in several therapeutic areas including cardiovascular
 disorders, oncology, hematology and immunology.
     These technologies are covered by a broad patent portfolio that includes
 issued U.S. and European claims.  Valentis' commercial strategy is to enter
 into corporate collaborations for full-scale clinical development and
 marketing and sales of products.  Together, Valentis and its wholly owned
 subsidiary PolyMASC Pharmaceuticals, currently have corporate collaborations
 with Roche Holdings, Eli Lilly, Glaxo Wellcome, Boehringer Ingelheim, Heska
 Corporation, Eurogene, Transkaryotic Therapies, Onyx Pharmaceuticals, Viragen
 and Bayer International, and a manufacturing partnership (the pAlliance) with
 DSM Biologics and Qiagen N.V.  Additional information about Valentis can be
 found at www.valentis.com.
     Statements in this press release that are not strictly historical are
 "forward looking" statements as defined in the Private Securities Litigation
 Reform Act of 1995.  The words "believes," "expects," "intends,"
 "anticipates," variations of such words, and similar expressions identify
 forward-looking statements, but their absence does not mean that the statement
 is not forward-looking.  These statements are not guarantees of future
 performance and are subject to certain risks, uncertainties and assumptions
 that are difficult to predict.  Factors that could affect Valentis' actual
 results include the need for additional capital, the early stage of product
 development, uncertainties related to clinical trials, and uncertainties
 related to patent position.  There can be no assurance that Valentis will be
 able to develop commercially viable gene medicines or PEGylated
 biopharmaceuticals, that any of the company's programs will be partnered with
 pharmaceutical partners, that necessary regulatory approvals will be obtained,
 or that any clinical trial will be successful.  Actual results may differ from
 those projected in the forward-looking statement due to risks and
 uncertainties that exist in the companies' operations and business
 environments.  These are described more fully in the Valentis Annual Report on
 Form 10-K for the period ended June 30, 2000 and Quarterly Report on
 Form 10-Q for the period ended December 31, 2000, each as filed with the
 Securities and Exchange Commission.
 
 

SOURCE Valentis, Inc.
    BURLINGAME, Calif., April 12 /PRNewswire/ -- Valentis, Inc. (Nasdaq:  VLTS)
 today announced that it has granted a non-exclusive license of the Company's
 GeneSwitch(TM) gene regulation technology to GlaxoSmithKline (NYSE:   GSK) for
 use in functional genomics research.  The non-exclusive license is for
 research purposes only, and no financial terms were disclosed.  Valentis
 maintains all rights to clinical gene therapy applications of the
 GeneSwitch(TM) technology.
     The GeneSwitch(TM) system allows researchers to control the level and
 duration of selected genes in transgenic animals and cell cultures, aiding in
 the identification and characterization of a gene's function.  Valentis is
 currently developing the GeneSwitch(TM) system as a component of a regulated
 erythropoietin gene medicine that is expected to begin clinical testing next
 year.
     "The license to GlaxoSmithKline represents the second commercial license
 of the GeneSwitch(TM) technology to pharmaceutical companies for their
 internal commercial research efforts that we have completed this year," stated
 Gregory M. McKee, Valentis' Senior Director of Business Development.  "We have
 also made the GeneSwitch(TM) system available to the academic research
 community through a license to Invitrogen Corp. (Nasdaq:   IVGN), and expect to
 conclude a number of similar licenses over the next year.  We believe the
 GeneSwitch(TM) technology will accelerate the throughput of genomics research
 because it has the unique ability to completely control gene expression and
 assist in the identification and characterization of the function of selected
 genes."
     Further technical and licensing information on the GeneSwitch(TM)
 technology can be found at www.geneswitch.com or www.valentis.com.
     Valentis, Inc. is a leader in the field of biopharmaceutical delivery.
 The Company develops a broad array of products, proprietary technologies and
 intellectual property and applies its preclinical and early clinical
 development expertise to create novel therapeutics and improved versions of
 existing marketed biopharmaceuticals.  Valentis' core technologies include
 multiple gene delivery and gene expression systems and PEGylation technologies
 designed to improve the safety, efficacy and dosing characteristics of genes,
 proteins, peptides, peptidomimetics, antibodies, replicating and non
 replicating viruses and liposomes.  The Company focuses its research and
 development efforts in several therapeutic areas including cardiovascular
 disorders, oncology, hematology and immunology.
     These technologies are covered by a broad patent portfolio that includes
 issued U.S. and European claims.  Valentis' commercial strategy is to enter
 into corporate collaborations for full-scale clinical development and
 marketing and sales of products.  Together, Valentis and its wholly owned
 subsidiary PolyMASC Pharmaceuticals, currently have corporate collaborations
 with Roche Holdings, Eli Lilly, Glaxo Wellcome, Boehringer Ingelheim, Heska
 Corporation, Eurogene, Transkaryotic Therapies, Onyx Pharmaceuticals, Viragen
 and Bayer International, and a manufacturing partnership (the pAlliance) with
 DSM Biologics and Qiagen N.V.  Additional information about Valentis can be
 found at www.valentis.com.
     Statements in this press release that are not strictly historical are
 "forward looking" statements as defined in the Private Securities Litigation
 Reform Act of 1995.  The words "believes," "expects," "intends,"
 "anticipates," variations of such words, and similar expressions identify
 forward-looking statements, but their absence does not mean that the statement
 is not forward-looking.  These statements are not guarantees of future
 performance and are subject to certain risks, uncertainties and assumptions
 that are difficult to predict.  Factors that could affect Valentis' actual
 results include the need for additional capital, the early stage of product
 development, uncertainties related to clinical trials, and uncertainties
 related to patent position.  There can be no assurance that Valentis will be
 able to develop commercially viable gene medicines or PEGylated
 biopharmaceuticals, that any of the company's programs will be partnered with
 pharmaceutical partners, that necessary regulatory approvals will be obtained,
 or that any clinical trial will be successful.  Actual results may differ from
 those projected in the forward-looking statement due to risks and
 uncertainties that exist in the companies' operations and business
 environments.  These are described more fully in the Valentis Annual Report on
 Form 10-K for the period ended June 30, 2000 and Quarterly Report on
 Form 10-Q for the period ended December 31, 2000, each as filed with the
 Securities and Exchange Commission.
 
 SOURCE  Valentis, Inc.

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