HUDDINGE, Sweden, April 25, 2002 (PRIMEZONE) -- During its Q1 report telephone conference on April 24th Chiron announced that it has decided to stop the collaboration with Medivir on MIV-150 (HIV-NNRTI) as a result of its regular and normal re-evaluation of development priorities. The project will be returned to Medivir.
Medivir has a broad and long presence in the field of HIV research based on extensive know how in development of inhibitors of polymerases and proteases. Our present pipeline includes novel and innovative HIV drugs of different types, both NNRTI, NRTI and protease inhibitors in various stages of development. In view of these promising ongoing projects Medivir will not invest further resources in MIV-150.
For further information, please contact:
Jonas Frick, President and CEO of Medivir +46 8 608 3100 Rein Piir, CFO and VP/IR of Medivir +46 8 608 3123 or +46 708 537292
About the Medivir group
Medivir is an innovative and specialized research company active in the pharmaceuticals sphere, located in Cambridge, UK, and Huddinge, Sweden. Medivir's research focuses on the development of new pharmaceutical compounds as inhibitors of target enzymes with protease or polymerase activity.
The group comprises Medivir AB, the subsidiaries Medivir UK Ltd. and CCS AB, plus second-tier subsidiaries CCS (UK) Ltd. and Nordic Care Sweden AB. Medivir has been listed on the Stockholm Stock Exchange since 1996.
The research portfolio includes projects against HIV, jaundice, shingles, cold sores, osteoporosis, rheumatoid arthritis, asthma and multiple sclerosis.
Medivir has four projects in clinical development. Of these, two are moving towards Phase III trials after having completed Phase II trials. One is in Phase I and one is in Phase II.
Medivir's pre-clinical research encompasses a number of projects, of which one is on its way towards and two are in the lead optimization phase and one is in the late pre-clinical research stage. Furthermore Medivir has over ten explorative activities.
For more information about Medivir, visit the company's web site at www.medivir.com
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