Valentis to Consolidate Pre-Clinical Research And Development Activities

Apr 17, 2001, 01:00 ET from Valentis, Inc.

    BURLINGAME, Calif., April 17 /PRNewswire/ -- Valentis, Inc. (Nasdaq: VLTS)
 announced today that it will consolidate all of its PEGylation research
 activities from its facilities in London, England into its preclinical
 research and development center in The Woodlands, Texas.  About 15 jobs will
 be eliminated in the closure of the London center, reducing the total Valentis
 headcount to approximately 110 people.  James Green, the Company's commercial
 development director, was named as managing director of the London Center and
 will be responsible for the transfer of the technology to Texas over the next
 six months.  This will allow Valentis to utilize the research and development
 capabilities already present in its Texas operations to more rapidly advance
 its products and partnerships in the PEGylation area.
     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 forward-looking statements 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 17 /PRNewswire/ -- Valentis, Inc. (Nasdaq: VLTS)
 announced today that it will consolidate all of its PEGylation research
 activities from its facilities in London, England into its preclinical
 research and development center in The Woodlands, Texas.  About 15 jobs will
 be eliminated in the closure of the London center, reducing the total Valentis
 headcount to approximately 110 people.  James Green, the Company's commercial
 development director, was named as managing director of the London Center and
 will be responsible for the transfer of the technology to Texas over the next
 six months.  This will allow Valentis to utilize the research and development
 capabilities already present in its Texas operations to more rapidly advance
 its products and partnerships in the PEGylation area.
     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 forward-looking statements 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.

RELATED LINKS

http://www.megabios.com