ROCKVILLE, Md., June 8 /PRNewswire-FirstCall/ -- Attached is a press release issued yesterday by GlaxoSmithKline (GSK), regarding new Phase 2 data for Syncria(R) (albiglutide) presented at the American Diabetes Association 69th Scientific Sessions in New Orleans.
Syncria is a biological product generated from the genetic fusion of human albumin and modified human GLP-1 peptide, and is designed to act throughout the body to help maintain normal blood-sugar levels and to control appetite. Syncria was created by HGS using its proprietary albumin-fusion technology, and licensed to GSK in 2004. HGS is entitled to fees and milestone payments that could amount to as much as $183 million - including $33.0 million received to date - in addition to single-digit royalties on worldwide sales if Syncria is commercialized.
In February 2009, GSK announced initiation of a Phase 3 clinical trial program to evaluate the efficacy, safety and tolerability of Syncria in the long-term treatment of type 2 diabetes mellitus. All inquiries regarding the Phase 2 data presented at ADA, or about the development of Syncria, should be directed to the contacts provided by GSK. To view the GSK press release, please click here.
For more information about HGS, please direct inquiries to the HGS contacts provided, or visit the Company's web site at www.hgsi.com.
HGS and Human Genome Sciences are trademarks of Human Genome Sciences, Inc. (Nasdaq: HGSI)
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements are based on Human Genome Sciences' current intent, belief and expectations. These statements are not guarantees of future performance and are subject to certain risks and uncertainties that are difficult to predict. Actual results may differ materially from these forward-looking statements because of the Company's unproven business model, its dependence on new technologies, the uncertainty and timing of clinical trials, the Company's ability to develop and commercialize products, its dependence on collaborators for services and revenue, its substantial indebtedness and lease obligations, its changing requirements and costs associated with facilities, intense competition, the uncertainty of patent and intellectual property protection, the Company's dependence on key management and key suppliers, the uncertainty of regulation of products, the impact of future alliances or transactions and other risks described in the Company's filings with the Securities and Exchange Commission. In addition, while the Company has completed shipment of ABthrax to the U.S. Strategic National Stockpile, the Company will continue to face risks related to FDA's approval of the Company's Biologics License Application for ABthrax. If the Company is unable to meet requirements associated with the ABthrax contract, future revenues from the sale of ABthrax to the U.S. Government will not occur. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of today's date. Human Genome Sciences undertakes no obligation to update or revise the information contained in this announcement whether as a result of new information, future events or circumstances or otherwise.
Media Contact: Jerry Parrott Vice President, Corporate Communications 301-315-2777 Investor Contact: Peter Vozzo Senior Director, Investor Relations 301-251-6003
|SOURCE Human Genome Sciences, Inc.|
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