CHIR Chiron (MM)

Chiron Grants Nonexclusive HCV License to Vertex EMERYVILLE, Calif., Nov. 7 /PRNewswire-FirstCall/ -- Chiron Corporation today announced that it has granted a nonexclusive license to Vertex Pharmaceuticals for the research, development and commercialization of therapeutics against certain hepatitis C virus (HCV) drug targets. In addition, Chiron was granted limited rights to review Vertex's compound VX-950, a potential treatment for HCV infection, for potential licensing. The financial terms and other details of the license were not disclosed. "As this agreement illustrates, Chiron is committed to making its technology for hepatitis C widely available to companies researching new therapies for this disease," said William G. Green, Esq., Chiron general counsel. "We are continuing to work on addressing this major medical need by licensing our technology to other companies and by pursuing our own research into agents to prevent and treat hepatitis C." As part of the licensing agreement, Chiron and Vertex have settled a patent infringement suit that Chiron brought against Vertex in 1998. The suit claimed that Vertex violated several patents related to Chiron's hepatitis C technology. About Hepatitis C In 1987, Chiron scientists Michael Houghton, Ph.D.; Qui-Lim Choo, Ph.D.; and George Kuo, Ph.D., cloned and first identified HCV as the cause of transfusion-related non-A, non-B hepatitis. This breakthrough marked the first time a virus was cloned before it had been grown in tissue culture or otherwise isolated. The Chiron scientists received the prestigious Lasker Award in recognition of this discovery. Since the initial work, Chiron has been granted more than 100 HCV-related patents in over 20 countries, including patents directed to hepatitis C polypeptides encoded throughout the genomes of HCV. Such polypeptides can be used in a variety of medical applications, including blood screening, clinical diagnosis, vaccines and as therapeutic targets for drug screening. A number of therapeutic companies have been granted nonexclusive licenses to Chiron's HCV technology for drug screening purposes, including Bristol-Myers Squibb, GlaxoSmithKline, Japan Tobacco Inc. and Gilead. About Chiron Chiron Corporation, headquartered in Emeryville, California, is a global pharmaceutical company that leverages a diverse business model to develop and commercialize high-value products that make a difference in people's lives. The company has a strategic focus on cancer and infectious disease. Chiron applies its advanced understanding of the biology of cancer and infectious disease to develop products from its platforms in proteins, small molecules and vaccines. The company commercializes its products through three business units: BioPharmaceuticals, Vaccines and Blood Testing. For more information about Chiron, visit the company's website at http://www.chiron.com/. This news release contains forward-looking statements regarding royalty revenue and the possible grant of additional licenses that involve risks and uncertainties and are subject to change. A full discussion of the company's operations and financial condition, including factors that may affect its business and future prospects, is contained in documents the company has filed with the SEC, including the form 10-Q for the quarter ended June 30, 2003, and the form 10-K for the year ended December 31, 2002, and will be contained in all subsequent periodic filings made with the SEC. Consistent with SEC Regulation FD, we do not undertake an obligation to update the forward-looking information we are giving today. DATASOURCE: Chiron Corporation CONTACT: Chiron Corporate Communications & Investor Relations, media, +1-510-923-6500, or investors, +1-510-923-2300 Web site: http://www.chiron.com/

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