Human Genome Sciences establishes CoGenesys as independent company

By Elaine Rigoli

Tampa, Fla., June 12 - Human Genome Sciences Inc. said it has completed the transaction establishing its CoGenesys division as an independent company that will focus on the early development of selected gene-based product opportunities and the monetization of certain Human Genome Sciences intellectual property and technology assets.

Human Genome Sciences will maintain its focus on progress toward the commercialization of its lead products: Albuferon for hepatitis C and LymphoStat-B for lupus, both of which are expected to enter phase 3 clinical trials before the end of 2006, officials said.

As a result of the CoGenesys transaction, Human Genome Sciences will retain a 13% equity interest in the new company.

Human Genome Sciences has granted CoGenesys Inc. exclusive rights to develop and commercialize biological products based on certain human genes and has granted CoGenesys a license to use its proprietary albumin-fusion technology to develop and commercialize certain albumin-fusion proteins.

Based in Rockville, Md., Human Genome Sciences develops drugs that serve patients with unmet medical needs, with a primary focus on protein and antibody drugs.

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