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Genelabs Announces Collaborative Research Agreement With National Health Research Institutes of Taiwan and Genovate Biotechnology Co., Ltd.
Thursday July 24, 01:30 AM
Genelabs Technologies, Inc. (Nasdaq:GNLB) announced today that it has entered into a collaborative research agreement with the National Health Research Institutes (NHRI), a non-profit foundation established by the government of the Republic of China, and Genovate Biotechnology Co., Ltd. (Genovate) a fully integrated biopharmaceutical company in Taiwan. The intent of the collaboration between the three parties is to jointly conduct further research to discover and develop compounds that target the hepatitis C virus (HCV).
"The collaboration will increase the level of chemistry and biology research activities on a selected Genelabs project targeting the HCV virus," said Ronald C. Griffith, Ph.D., Genelabs' CSO. "We are very pleased to have NHRI and Genovate contribute their scientific expertise to our efforts to bring new HCV drugs to the clinic."
NHRI and Genelabs scientists will jointly work to discover and develop new HCV drug candidates by utilizing Genelabs' know-how and lead compounds on an existing target and NHRI's chemistry and drug discovery expertise.
"We are excited to further our scientific efforts for HCV with these leading research organizations in Taiwan," said Fred Driscoll CFO. "We view this collaboration to be a highly cost-efficient approach to accelerate the development timelines of our HCV inhibitor pipeline."
NOTE ON FORWARD LOOKING STATEMENTS AND RISKS:
This press release contains forward-looking statements regarding Genelabs' new collaboration with NHRI and Genovate to conduct further research to discover and develop certain HCV inhibitor compounds. These forward-looking statements are based on Genelabs' current expectations and are subject to uncertainties and risks that could cause actual results to differ materially from the statements made, including, without limitation, uncertainties and risks associated with the discovery and development of therapeutic compounds and the continued commitment of Genelabs' collaborative partners. Please see the information appearing in the company's filings with the Securities and Exchange Commission, including the most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, under the captions "Risk Factors," "Business Risks" and "Forward-Looking Statements" for more discussion regarding these uncertainties and risks and other risks that may cause actual results to differ from those included in the forward-looking statements. Genelabs does not undertake any obligation to update these forward-looking statements or risks to reflect events or circumstances after the date of this release.
Contact:
Genelabs Technologies, Inc. Frederick Driscoll, 650-562-1477 Chief Financial Officer
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