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SCHEDULE 14A INFORMATION
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240.14a-12
Scios Inc.
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SCIOS LETTERHEAD
CONTACT:
Wendy Carhart
Scios Inc.
408/616-8325
or
Nadine Padilla
Biosite Diagnostics Incorporated
619/455-4808 x3187
FOR IMMEDIATE RELEASE:
SCIOS BNP DIAGNOSTIC LICENSEE FILES PMA APPLICATION
Biosite Diagnostic Product Now Before the FDA
SUNNYVALE, CA, December 22, 1999 - Scios Inc. (NASDAQ: SCIO) announced today
that Biosite Diagnostics Incorporated, one of Scios' B-type natriuretic peptide
(BNP) diagnostic licensees, has filed its pre-market approval application with
the United States Food and Drug Administration (FDA) seeking approval to market
the Triage (R) BNP Test. The test measures BNP as an aid in the basis for
diagnosis of patients with congestive heart failure.
"Using BNP as a diagnostic tool for congestive heart failure will elevate the
level of understanding of this cardioprotective hormone in heart failure. One of
the heart's natural compensatory responses to stress is to release BNP. The
development of a BNP diagnostic test represents an important advance in the
ability to aid in the diagnosis of patients with heart failure and further
underscores the key role of BNP in this medical condition. We believe a BNP
diagnostic test will help to enhance the overall market awareness of the
beneficial role of BNP in congestive heart failure, strengthening the potential
for Natrecor", said Richard B. Brewer, President and CEO of Scios.
Natrecor(R) (nesiritide), Scios' recombinant form of BNP, is now in a Phase III
clinical trial for acute congestive heart failure. Patients began enrolling in
the VMAC (Vasodilation in the Management of Acute Congestive heart failure)
trial in October, and total enrollment of approximately 500 patients is expected
to be completed by the third quarter of 2000.
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December 22, 1999
Page 2
Scios' two other licensees for BNP diagnostic products, Abbott Laboratories and
Shionogi & Co., Ltd., are in various stages of development. Scios will receive
royalties based on sales of Biosite's Triage BNP Test.
SCIOS INC.
Scios is a biopharmaceutical company engaged in the discovery, development, and
commercialization of novel human therapeutics. Scios has commercial or research
and development relationships with Chiron Corporation, The DuPont
Pharmaceuticals Company, Eli Lilly and Company, GenVec Inc., Kaken
Pharmaceutical Co., Ltd., and Novo Nordisk A/S of Denmark. Scios' Psychiatric
Sales and Marketing Division successfully markets seven psychiatric products,
including co-promotion arrangements with Janssen Pharmaceutica's Risperdal(R)
(risperidone) and SmithKline Beecham's Paxil(R) (paroxetine hydrochloride).
Additional information on Scios is available at its web site located at
www.sciosinc.com and in the Company's various filings with the Securities and
Exchange Commission.
BIOSITE
Since its inception in 1988, Biosite Diagnostics Incorporated has been dedicated
to meeting important clinical needs in emergency medicine by speeding the flow
of critical diagnostic information. Biosite's position as a leading provider of
Immediate Response Diagnostics(R) has been driven by its focus on customer
satisfaction and technological innovation. Biosite's Triage brand products are
used in 45 percent of U.S. hospitals and in more than 20 international markets.
Additional information on the Company can be found at www.biosite.com.
The statements in this press release that are not historical facts are
forward-looking statements that involve risks and uncertainties, and include the
risk of timely and successful completion of the current clinical trial for
Natrecor and achieving approval of Natrecor, the risks associated with
development and commercialization of the Company's other products and the risks
associated with the other strategies comprising the Company's new business plan,
as well as other risks detailed from time to time in the reports filed by Scios
with the SEC, including the Company's annual report on Form 10-K for the year
ended December 31, 1998 and subsequent reports on Form 10-Q.
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December 22, 1999
Page 3
CERTAIN INFORMATION CONCERNING PARTICIPANTS
Scios Inc. has scheduled its annual meeting of stockholders for February 28,
2000. The following information is provided concerning the participants on
behalf of Scios Inc. in the solicitation of proxies for this meeting.
The following individuals, all of whom are directors of Scios Inc., may be
deemed participants in the solicitation of proxies on behalf of the Company's
Board of Directors: Donald B. Rice, Ph.D. (Chairman of the Board of the Company;
President and Chief Executive Officer of Urogenesys, Inc.); Richard B. Brewer
(Chief Executive Officer and President of the Company); Samuel H. Armacost
(Chairman, SRI International); Myron Du Bain (Chairman and Chief Executive
Officer (Retired), Fireman's Fund Corporation); Charles A. Sanders, M.D.
(Chairman and Chief Executive Officer (Retired), Glaxo Inc.); Solomon H. Snyder,
M.D. (Director, Department of Neuroscience, and Distinguished Service Professor
of Neuroscience, Pharmacology and Molecular Sciences and Psychiatry, The Johns
Hopkins University); Burton E. Sobel, M.D. (E.L. Amidon Professor and Chair,
Department of Medicine, The University of Vermont College of Medicine); and
Eugene L. Step (Executive Vice President, President of the Pharmaceutical
Division (Retired), Eli Lilly and Company). The following executives of the
Company may also be deemed participants: Thomas L. Feldman (Vice President of
Commercial Operations); Elliott B. Grossbard, M.D. (Senior Vice President of
Development); David W. Gryska (Vice President of Finance and Chief Financial
Officer); John A. Lewicki, Ph.D. (Vice President of Research); John H. Newman
(Senior Vice President, General Counsel & Secretary); George F. Schreiner, M.D.,
Ph.D. (Vice President, Cardiorenal Research) and Wendy Carhart (Senior Manager
of Investor Relations).
In the aggregate, these individuals beneficially own 1,626,257 shares of the
Company's Common Stock, including 1,267,332 shares subject to stock options
exercisable within 60 days of December 6, 1999. None of these individuals
beneficially owns more than 1% of the Company's common stock. In addition to
customary cash compensation payable to non-employee directors, under the
Company's Equity Incentive Plan each non-employee director receives an automatic
grant of a stock option to acquire 10,000 shares of the Company's Common Stock
at each annual meeting where the director is elected to the Company's Board of
Directors. Mr. Brewer's employment agreement with the Company provides for,
among other things, severance payments to Mr. Brewer in the event of termination
of his employment "without cause" or "for good reason."
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