KODAK-ICN RESEARCH VENTURE TO FOCUS ON DISCOVERY OF ANTIVIRAL, ANTI-AGING AGENTS

Executive Summary

KODAK-ICN RESEARCH VENTURE TO FOCUS ON DISCOVERY OF ANTIVIRAL, ANTI-AGING AGENTS, a recent press release announcing the formation of the joint research institute indicated. According to the release, the institute will "explore new biomedical compounds," dedicating "much of its research exclusively to preclinical studies of new antiviral and anti-aging substances." $45 mil. will be funneled into the formation and operation of the Nucleic Acid Research Institute by the two companies over a period of six years, the release said. When fully operational, the institute, which will be located at ICN's Costa Mesa, California facility, will employ more than 150 people. The institute will be headed by Waldon Jolley, Loma Linda University Medical Center, who will serve as president with additional responsibility for pharmacological research. Roland Robins, Brigham Young University Medical Center, will direct molecular research, and Robert Smith, UCLA, will supervise biomedical research. Commenting upon the importance of the research to Eastman Kodak, L. J. Thomas, senior VP and director of research for Kodak, said in the release: "We expect the Institute to build on ICN's pioneering work in the area of nucleic acid research, leading to specific substances with practical applications." The venture with ICN represents the latest step in Kodak's involvement in the health care field. Historically, the company has provided the industry with radiographic films and screens. Last February, Kodak established a biotechnology unit to expand its interests and capabilities in the biotechnology area ("The Pink Sheet" Feb. 25, T&G-1). ICN has one product in the pipeline, Virazole (ribavirin), with an NDA pending for the treatment of respiratory syncytial virus.