Sanofi-aventis and Regeneron Pharmaceuticals Reaffirm Development
Commitment
PARIS, Jan. 10 /PRNewswire-FirstCall/ -- Sanofi-aventis (EURONEXT: SAN and
NYSE: SNY) announced today that, following a review of the Vascular Endothelial
Growth Factor (VEGF) Trap program, they have reaffirmed their commitment to
develop the VEGF Trap in oncology in collaboration with Regeneron
Pharmaceuticals Inc. (NASDAQ:REGN). The companies will evaluate the VEGF Trap
in a variety of cancer types, both in single-agent studies and in combination
with chemotherapy. Sanofi-aventis also announced that Regeneron has earned a
$25 million clinical development milestone payment.
"This is an exciting time for us as we continue to gather evidence on the
potential of the VEGF Trap to block the formation of blood vessels that fuel
the growth of cancerous tumors. All of us at Regeneron are looking forward to
working with sanofi-aventis to accelerate the development of the VEGF Trap,"
noted Leonard S. Schleifer, M.D., Ph.D., Regeneron's President and Chief
Executive Officer. "Sanofi-aventis is clearly committed to discovery,
development, and commercialization of innovative products. Its expertise in
oncology, driven by its commitment to the VEGF Trap, can provide a great
resource for us in moving the program forward." Marc Cluzel, M.D., Ph.D., Vice President, International Development, Sciences &
Medical Affairs of sanofi-aventis added: "this is an important partnership for
sanofi-aventis and we continue to believe that the blockage of VEGF is one of
the most innovative approaches to targeted cancer therapy." In addition, the companies have agreed that the exclusive right to develop and
commercialize the VEGF Trap for eye diseases through local delivery systems
reverts today to Regeneron. The collaboration will not currently pursue
systemic delivery for eye disease.
In connection with this agreement, sanofi-aventis will make a one-time payment
to Regeneron of $25 million, of which 50% is repayable to sanofi-aventis
following commercialization of the VEGF Trap.
About Sanofi-aventis Sanofi-aventis is the world's 3rd largest pharmaceutical company, ranking
number 1 in Europe. Backed by a world-class R&D organization, Sanofi-aventis is
developing leading positions in seven major therapeutic areas: cardiovascular
disease, thrombosis, oncology, diabetes, central nervous system, internal
medicine, vaccines. Sanofi-aventis is listed in Paris (EURONEXT: SAN) and in
New York (NYSE:SNY).
For Sanofi-aventis: This press release contains forward-looking statements as defined in the
Private Securities Litigation Reform Act of 1995. Forward-looking statements
are statements that are not historical facts. These statements include
financial projections and estimates and their underlying assumptions,
statements regarding plans, objectives and expectations with respect to future
operations, products and services, and statements regarding future performance. Forward-looking statements are generally identified by the words "expect,"
"anticipates," "believes," "intends," "estimates," "plans" and similar
expressions. Although sanofi-aventis' management believes that the
expectations reflected in such forward-looking statements are reasonable,
investors are cautioned that forward-looking information and statements are
subject to various risks and uncertainties, many of which are difficult to
predict and generally beyond the control of sanofi-aventis, that could cause
actual results and developments to differ materially from those expressed in,
or implied or projected by, the forward-looking information and statements. These risks and uncertainties include those discussed or identified in the
public filings with the SEC and the AMF made by Sanofi-aventis and Aventis,
including those listed under "Forward-Looking Statements" and "Risk Factors" in
sanofi-aventis's annual report on Form 20-F for the year ended December 31,
2003 and those listed under "Cautionary Statement Regarding Forward-Looking
Statements" and "Risk Factors" in Aventis's annual report on Form 20-F for the
year ended December 31, 2003. Other than as required by applicable law,
sanofi-aventis does not undertake any obligation to update or revise any
forward-looking information or statements.
About Regeneron Regeneron is a biopharmaceutical company that discovers, develops, and intends
to commercialize therapeutic medicines for the treatment of serious medical
conditions. Regeneron has therapeutic candidates in clinical trials for the
potential treatment of cancer and eye diseases, rheumatoid arthritis and other
inflammatory conditions, asthma, and obesity and has preclinical programs in
other diseases and disorders. Regeneron corporate headquarters are in
Tarrytown, NY. For more information, please visit http://www.regn.com/.
CONTACT: Jean-Marc Podvin
Vice President, Media Relations
sanofi-aventis
+331-53-77-4223 Charles F. Rouse III
sanofi-aventis
908-243-6050
DATASOURCE: Sanofi-aventis CONTACT: Jean-Marc Podvin, Vice President, Media Relations, sanofi-aventis, +011-331-53-77-4223, or U.S. Contact: Charles F. Rouse III of sanofi-aventis, +1-908-243-6050 Web site: http://www.sanofi-aventis.com/ http://www.regn.com/ Company News On-Call: http://www.prnewswire.com/comp/232375.html
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