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PVAC Trial in Psoriasis Halted

SEATTLE & AUCKLAND, New Zealand--(BUSINESS WIRE)--Dec. 22, 2003--Corixa Corp. (Nasdaq:CRXA - News) and Genesis Research and Development Corporation Ltd (NZSE:GEN)(ASX:GEN - News) today announced that the companies have discontinued the development of PVAC(TM) treatment, a product candidate for the treatment of psoriasis. The decision follows the recent completion of a randomized and placebo controlled clinical trial of PVAC in mild to moderate psoriasis patients that examined different dosages and durations of therapy. This trial confirmed that PVAC therapy failed to provide a statistically significant increase in the percentage of patients achieving a 75 percent reduction in psoriasis area and severity index (PASI) score as compared to placebo treated patients. In addition, results of a clinical trial in which PVAC treatment was provided to patients in advance of standard ultraviolet light therapy failed to demonstrate a significant clinical benefit of PVAC over and above that manifested by ultraviolet light therapy alone.

"The results of the randomized and placebo controlled trials do not justify further investment of resources in PVAC product development," stated Steven Gillis, Ph.D., chairman and chief executive officer of Corixa. "We appreciate the efforts of the investigators involved in these studies as well as the support of our development partners, Medicis and Zenyaku Kogyo. While we would have preferred a different outcome, we thoroughly explored the potential utility of PVAC in this indication and we are confident that we have made the right decision."

Source: Corixa Corp. and Genesis Research and Development Corporation Ltd

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