Rahul Sharma (Editor)

Human Genome Sciences

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Type
  
Subsidiary

Owner
  
GlaxoSmithKline

Founder
  
Craig Venter

Number of employees
  
1,000

Products
  
Diagnostic Substances

Website
  
www.hgsi.com

Founded
  
1992

Parent organization
  
GlaxoSmithKline

Human Genome Sciences 1bpblogspotcommg7D3kYysfwSiF0NfB8MvIAAAAAAA

Industry
  
Healthcare' Pharmaceuticals

Key people
  
H. Thomas Watkins, CEO & Pres

CEO
  
Andrew Witty (1 Aug 2012–)

Headquarters
  
Rockville, Maryland, United States

Subsidiaries
  
Human Genome Sciences Pacific Pty Ltd

Human genome sciences hgsi benlysta development and stock trading update


Human Genome Sciences is a biopharmaceutical corporation founded in 1992. It uses the human DNA sequence to develop protein and antibody drugs. As of 2008, it has drugs under development to treat such diseases as hepatitis C, systemic lupus erythmatosis, anthrax disease, and cancer. It collaborates with other biotechnology and pharmaceutical companies, for development partnerships and licensing.

Contents

On July 16, 2012, HGS agreed to be purchased by GlaxoSmithKline for $3.6 billion.

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Corporate history

The company was founded by William A. Haseltine, a noted Harvard professor and AIDS researcher. HGS had a partnership for several years after its founding with Craig Venter and his non-profit TIGR to begin sequencing and submitting patents on hundreds of thousands of protein-encoding DNA fragments. In 2000, Haseltine said that his work "speeds up biological discovery a hundredfold, easily." He talked of finding in genes "the fountain of youth" in the form of "cellular replacement" therapies. More than $2 billion in investments was raised by the company by 1999-2000. Two initial drugs failed in clinical trials, and the stock share price declined from its highs. For example, in September 2000, the company reported that it had found a way to treat large, painful sores that often plague elderly patients, using a protein spray called repifermin, made by a human gene called keratinocyte growth factor-2. In February 2004, the company said that it was ending the development of repifermin because it showed no more benefit than a placebo in clinical trials.

In late 2004, HGS announced Haseltine's retirement and named H. Thomas Watkins the new President and CEO.

Benlysta (belimumab) received U.S. Food and Regulatory Administration approval for use in lupus in March 2011. Belimumab is being developed with GlaxoSmithKline, Abthrax (raxibacumab) for anthrax disease is the subject of a contract with the US Government under Project BioShield. Development of Albuferon (albinterferon) for Hepatitis C has been discontinued after fatalities during early testing. Belimumab and raxibacumab were created as a result of a technology licensing deal signed with Cambridge Antibody Technology signed in 1999.

Its facilities in Rockville, Maryland earned its architect—Davis Carter Scott, Ltd.—an award from the National Association of Industrial and Office Properties. The Association cited the glass walls, atrium, and uniform design of all the buildings as reasons for the award.

On April 19, 2012, GlaxoSmithKline (GSK) made a takeover bid for HGS, offering $13.00 per share. The HGS board "...in consultation with independent financial and legal advisors, has carefully reviewed and considered the GSK offer and has determined that the offer does not reflect the value inherent in HGS." Glaxo then tried to buy HGS shares on the open market, but the HGS board of directors adopted a "poison pill" shareholder rights plan that led Glaxo to back off. Shareholders, however, sued the HGS board for adopting the plan. On July 16, 2012, HGS agreed to be purchased by GSK for $3.6 billion.

Collaboration with Cambridge Antibody Technology

In 1999, HGS signed a deal with the UK biopharmaceutical company Cambridge Antibody Technology to discover and develop antibody therapeutics. This deal generated belimumab, raxibacumab, mapatumumab and lexatumumab. In April 2012, the first three of these products form part of the six named by HGS in its public pipeline.

Pipeline

As of April 2012, HGS's pipeline consists of six products:

  1. Benlysta
  2. Raxibacumab
  3. Darapladib
  4. Albiglutide
  5. Mapatumumab
  6. HGS1036

References

Human Genome Sciences Wikipedia