PHARMASSET LICENSES CLEVUDINE FROM BUKWANG

Pharmasset and Bukwang Pharm. announce that they have entered into an exclusive license agreement under which Pharmasset will develop and commercialize Clevudine, also known as L-FMAU, for the treatment of chronic hepatitis B virus (HBV) infections in the Americas, Europe, and other select territories. Clevudine is a potent HBV antiviral currently in Phase III clinical trials in Korea and has been the subject of earlier stage clinical trials under an investigational new drug application filed with the FDA. The financial terms of the agreement were not disclosed.

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