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HCV Drug R7128 Makes Progress
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COMPANY PRESS RELEASE
Pharmasset Receives $7.5 Million HCV Milestone Payment from Roche
Princeton, NJ - (November 9, 2006) - Pharmasset announced today the receipt of a $7.5 million milestone payment from Roche. The milestone payment was triggered by Pharmasset's successful completion of certain manufacturing-related activities defined in their hepatitis C virus (HCV) collaboration agreement with Roche for the development of nucleoside polymerase inhibitors, including R7128.
"We are pleased to have completed several key chemistry process development and CMC activities for our HCV program," stated Dr. Darryl Cleary, Pharmasset's Vice President, Manufacturing. "Our HCV collaboration with Roche has effectively overcome one of the ratelimiting steps in clinical development programs."
About R7128
R7128 is a polymerase inhibitor being developed by Pharmasset and Roche for the treatment of chronic hepatitis C. R7128, an investigational agent, is currently being studied in a Phase I single ascending and multiple ascending dose study designed to assess the safety and pharmacokinetics of R7128 in healthy volunteers, as well as provide antiviral potency data over 14-days in HCV-infected individuals.
About Pharmasset
Pharmasset is a clinical-stage pharmaceutical company committed to discovering, developing and commercializing novel drugs to treat viral infections. Pharmasset's primary focus is on the development of oral therapeutics for the treatment of hepatitis B virus (HBV), hepatitis C virus (HCV) and human immunodeficiency virus (HIV).
Contact
Alan Roemer
Vice President, Finance & Investor Relations
alan.roemer@pharmasset.com
Office: (609) 613-4125
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