First Trade Date for Human Genome Sciences, Inc.
| Company Name | First Trade Date (yyyy-mm-dd) |
| Human Genome Sciences, Inc. | 1993-12-02 |
| Company Name | Symbol |
| Human Genome Sciences, Inc. | HGSI |
| History and Business of Company (this information may include date of incorporation) | |
|
Human Genome Sciences, Inc. (HGSI) is harnessing the power of the human genome and proteome to develop innovative drugs. According to scientists, the human genome (all the genetic information of a single organism) contains about 30,000 to 40,000 genes. DNA is the underlying structural material for the 23 pairs of chromosomes residing within human cells. About 3% of the genome contains specific sequences of DNA called genes, which synthesize proteins that in turn regulate bodily functions. The proteome is the set of all proteins expressed within the genome. HGSI's R&D focuses on discovering and commercializing therapeutic proteins, antibodies, and genes to prevent, inhibit, or reverse diseases. The company uses proprietary sequencing and bioinformatics systems to discover partial gene sequences, and to identify the genes corresponding to these sequences and the proteins encoded by such genes. R&D spending (excluding purchased in-process R&D) totaled $91.5 million in 2000. HGSI is independently developing MPIF-1 (Phase II) as an adjuvant treatment for breast and ovarian cancer. BLyS is being developed (Phase I) to treat Common Variable Immuodeficiency. BLyS may eventually be tested in HIV and hepatitis patients. In 2001, HGSI plans to initiate trials on an antibody to BLyS to treat rheumatoid arthritis and systemic lupus. It should also begin clinical trials for Albuferon in hepatitis C patients. HGSI is also collaborating with pharmaceutical and biotech concerns to develop and commercialize drugs. It may receive royalties, upfront payments, and milestones, as well as co- promotion revenues based on its participation in the development of a particular drug. In exchange, partners gain access to HGSI's technology platform, and rights to develop drugs culled from the program. Through an equally owned co-development partnership with Smithkline-Beecham (SKB), Phase II trials are being conducted on Repifermin to treat venous ulcers, ulcerative colitis, and mucositis. SKB also has rights to develop other drugs under a broader pact with HGSI. HGSI also has technology sharing agreements with Schering-Plough, Merck KGaA, Synthelabo, and Takeda. In September 2000, HGSI acquired privately held Principia Pharmaceutical, which specializes in recombinant albumin fusion technology that may prolong the drug activity of therapeutic proteins. In March 2001, HGSI agreed to buy a research and manufacturing facility in Rockville, MD, for $55 million. The facility will permit rapid expansion of HGSI's antibody discovery and protein formulation technology. INCORPORATED in Delaware June 26, 1992. OFFICE- 9410 Key West Ave., Rockville, MD 20850-3338 (Tel.: 301-309-8504). Fax - 301- 309-8512. WEBSITE-http://www.hgsi.com. | |
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