Genentech Clinical Partners IV is seeking to sell its assets,according to an announcement made Monday by PaineWebberDevelopment Corp.
The limited partnership raised $72.5 million in June 1989 tofund the development of recombinant CD4 products for thetreatment and prevention of HIV infection. HIV infects andeventually kills T helper cells, a class of white blood cells, bybinding to the CD4 receptor.
But CD4 therapeutics have shown little efficacy. Last January,Genentech Inc. (NYSE:GNE), which conducts research on CD4under contract from GCP IV, discontinued clinical trials of CD4-IgG to treat adults with AIDS. Results of preclinical and Phase Itrials showed no consistent clinical improvement.
SmithKline Beecham and Biogen Inc. have also reporteddisappointing results with their CD4 products.
The decision to sell the partnership's assets was based largelyon the significantly reduced financial return anticipated afterthe adult CD4-IgG trials were terminated.
The partnership is seeking a corporate purchaser interested indeveloping the products. Genentech has made an initial bid forthe assets.
The South San Francisco, Calif., company is continuing trials ofCD4-IgG to prevent transmission of the virus from HIV-infected pregnant women to their fetuses.
The assets being sold through PaineWebber include patent andother intellectual property rights to recombinant CD4-IgG, theproduct in clinical trials, formulated and bulk supplies of rCD4-IgG and clinical results from Phase I studies already completed.-- KB
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