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ST. LOUIS, MO,
and Taufkirchen, Germany, 28th
October 2005 -
Sigma-Aldrich, (Nasdaq: SIAL) a leading $1.4 billion Life
Science company announced today that it has signed a series of agreements
that expand its position in the area of RNA Interference (RNAi).
Sigma-Aldrich and Benitec Ltd. (ASX: BLT), a leading developer of RNAi-based
therapeutics, have signed two major agreements, one in which Sigma-Aldrich
acquires an equity stake in Benitec, and one in which Sigma-Aldrich is
granted the exclusive license to Benitec's intellectual property for RNAi in
the field of research reagents. Sigma-Aldrich also has an agreement with
Oxford BioMedica (LSE: OXB), a leading gene therapy company, to acquire an
equity stake in that company and exclusive access to key intellectual
property pertaining to the use of Lentivirus based vector systems. These
agreements mark the latest of a number of affiliations that are expected to
make Sigma-Aldrich a major force in RNAi.
"Signing of these agreements
with two leading companies in RNAi is a significant milestone for
Sigma-Aldrich," stated Shaf Yousaf, President of Sigma-Aldrich's Research
Biotechnology Business Unit. "RNAi based therapeutics hold tremendous
potential and both Benitec and Oxford BioMedica are among the leaders in
this area. These agreements further illustrate Sigma-Aldrich's commitment to
being a leader in the field of RNA Interference and greatly strengthen its
already strong portfolio of intellectual property in RNAi. Furthermore,
access to the know-how of these two world-class companies and their
proprietary technologies will accelerate our own R&D program directed
towards the development of innovative tools and services for the
biopharmaceutical industry."
The Benitec patents represent
key intellectual property in the practice of DNA-based RNAi. Under the terms
of the agreement, Sigma-Aldrich will receive an exclusive license to this
technology for research and commercialization of research based products.
Additionally, Sigma-Aldrich has the exclusive right to issue sub-licenses to
the Benitec intellectual property in that field. In return, Sigma-Aldrich
will make an initial payment, annual minimum royalties, and continuing
royalties on product sales and sub-licensee revenue. Sigma-Aldrich also
receives a non-exclusive license in the research reagent field to patents
co-owned by Benitec and the Commonwealth Scientific and Industrial Research
Organisation (CSIRO) of Australia for its solely owned commercial rights to
RNAi in "non-human applications," including its use in plants, animals, and
insects. Benitec retains all of its existing rights to human therapeutics
and diagnostics including the ability to enter into commercialization and
drug discovery agreements with pharmaceutical partners.
The Oxford BioMedica patents
focus on the use of Lentiviral vectors as delivery systems. These so-called
'minimal vectors', which contain only the few viral components required for
efficient gene delivery, deliver genes to a wide range of dividing and
non-dividing cells, including neurons. Oxford BioMedica has pending and
granted patents on the technology providing a sound basis for
freedom-to-operate in this field. Under the terms of the agreement,
Sigma-Aldrich will receive a license to commercialize this technology as
well as make and distribute products that utilize it. Sigma-Aldrich also has
the exclusive right to issue sub-licenses to this intellectual property, in
addition to a right of first refusal to negotiate a license to develop a new
range of products based on Oxford BioMedica's EIAV-based LentiVector
technology. In exchange, Oxford BioMedica will receive an upfront payment,
annual minimum payments and royalties on sales. Sigma-Aldrich has also
committed to an equity investment in Oxford BioMedica, to be completed
before January 31, 2006.
During the last year,
Sigma-Aldrich has made a major commitment to the fast developing area of
RNAi. This commitment began with the establishment of a research
collaboration with The RNAi Consortium (TRC), that consists of a partnership
between the Broad Institute MIT, Harvard, Dana Farber and other research
organizations and several major pharmaceutical companies, and the
introduction of the MISSION(R) TRC shRNA Libraries. The subsequent
acquisition of Proligo secured Sigma-Aldrich's ability to synthesize RNA and
provided access to one of only four licenses to a key MIT patent for RNAi,
allowing Sigma-Aldrich to take a strong position in siRNA. With these
agreements with Benitec and Oxford BioMedica, Sigma-Aldrich now has a major
intellectual property portfolio in RNAi which positions it well for market
leadership in RNAi research reagents.
About Sigma-Aldrich:
Sigma-Aldrich is a leading
Life Science and High Technology company. Its
biochemical and organic chemical products and kits are used in scientific
and genomic research, biotechnology, pharmaceutical development, the
diagnosis of disease and as key components in pharmaceutical and other high
technology manufacturing. The company has customers in life science
companies, university and government institutions, hospitals, and in
industry. Over one million scientists and technologists use its products.
Sigma-Aldrich operates in 35 countries and has over 6,800 employees
providing excellent service worldwide and is committed to accelerating
Customers' success through leadership in Life Science, High
Technology and Service. For more information about
Sigma-Aldrich, please visit its award-winning Web site at
http://www.sigma-aldrich.com.
About Benitec:
Benitec is an
international biotechnology company focused on developing therapeutics to
treat serious diseases using its proprietary RNAi technology. Benitec is
listed on the Australian Stock Exchange and has its operations centered in
Silicon Valley in Mountain View, California, USA. Its lead therapeutic
programs are for Hepatitis C Virus (HCV) and the Human Immunodeficiency
Virus (HIV). Benitec's RNA-based HIV therapeutic, co-developed with the
Center for Biomedicine & Genetics at the City of Hope in Los Angeles,
California, will enter Phase I clinical trials in early 2006. Benitec's RNAi
therapeutic for HCV will enter clinical trials in late 2006. For additional
information, please visit
http://www.benitec.com
.
About CSIRO:
CSIRO is the Commonwealth
Scientific and Industrial Research Organisation of Australia and was
involved in the discovery of ddRNAi. CSIRO successfully demonstrated that
ddRNAi is a highly effective gene silencing technology in plants and has
licensed the technology for a number of plant product applications. CSIRO is
also active in transferring the ddRNAi technology to animal production
applications. For additional information about CSIRO's ddRNAi technology,
visit
http://www.pi.csiro.au/rnai .
About Oxford
BioMedica:
Oxford BioMedica is a
biopharmaceutical company specializing in the development of novel
gene-based therapeutics with a focus on the areas of oncology and
neurotherapy. The Company was established in 1995 as a spin out from Oxford
University, and is listed on the London Stock Exchange. The Company is
underpinned by over 80 patent families, which represent one of the broadest
patent estates in the field. The staff of approximately 70 is split between
its main facilities in Oxford and its wholly owned subsidiary, BioMedica
Inc., in San Diego, California. Further information is available at
http://www.oxfordbiomedica.co.uk .
Forward-looking Statements
This press release contains
forward-looking statements that reflect the Companies' current expectations
regarding future events. Forward-looking statements involve risks and
uncertainties. Actual events could differ materially from those projected
herein and depend on a number of factors including the success of the
Companies' research strategy, the applicability of the discoveries made
therein, the successful and timely completion of clinical studies and the
uncertainties related to the regulatory process.
Media enquiries in
Europe to Northbank Communications:
Marc Egelhofer, Tel: +44 (0)1260 296505 m.egelhofer@northbankcommunications.com
At Sigma-Aldrich:
Kirk Richter, Treasurer of
Sigma-Aldrich Corporation
Tel: +1-314-286-8004
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