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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: February 5, 1998
Commission File Number: 0-18976
CELTRIX PHARMACEUTICALS, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 94-3121462
(State or other jurisdiction (I.R.S. Employer Identification No.)
of incorporation or organization)
3055 Patrick Henry Drive, Santa Clara, CA 95054-1815
(Address of principal executive offices and zip code)
Registrant's Telephone Number: (408) 988-2500
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ITEM 5. OTHER EVENTS
On February 5, 1998, Celtrix Pharmaceuticals, Inc., a Delaware
corporation (the "Company") announced Expanded Relationship With Genzyme's
Tissue Repair Division. Further details regarding this announcement are
contained in the Company's news release dated February 5, 1998, attached as
exhibit hereto and incorporated by reference herein.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(a) EXHIBITS
Exhibit 21 Celtrix Pharmaceuticals, Inc. News Release dated February 5, 1998.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
CELTRIX PHARMACEUTICALS, INC. (Registrant)
Date: February 5, 1998 By: /s/ DONALD D. HUFFMAN
-------------------------
Donald D. Huffman
Vice President, Finance & Administration
Chief Financial Officer (Duly authorized
principal financial and accounting
officer.)
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CELTRIX PHARMACEUTICALS, INC.
INDEX TO EXHIBITS
Exhibit Number
Exhibit 21 Celtrix Pharmaceuticals, Inc. Press Release
dated February 5, 1998.
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[CELTRIX LETTERHEAD]
NEWS RELEASE
CONTACT: Donald D. Huffman
Vice President, Finance & Administration
Chief Financial Officer
(408) 988-2500
CELTRIX EXPANDS RELATIONSHIP
WITH GENZYME'S TISSUE REPAIR DIVISION
SANTA CLARA, CA -- February 5, 1998 -- Celtrix Pharmaceuticals, Inc.
(Nasdaq: CTRX) announced today that it has granted Genzyme Corporation's Tissue
Repair Division (Nasdaq: GENZL) expanded technology and territory rights to
recombinant TGF-beta-2, a therapeutic compound. Under new and amended
agreements, Genzyme Tissue Repair now has access to Celtrix's TGF-beta-2
antibody and receptor technology. In addition, Genzyme now has the right to
develop and commercialize TGF-beta-2 throughout the world, including Japan,
China, Korea and Taiwan.
Genzyme received initial rights to Celtrix's recombinant TGF-beta-2 in
June 1994 for all systemic and certain local treatment applications. Since then,
Genzyme has been developing the compound as part of a comprehensive approach to
tissue repair and the treatment of systemic disease. Recombinant TGF-beta-2 is
based on a naturally occurring protein which appears to play an important role
in regulating healthy cell functions.
"Genzyme Tissue Repair is well positioned to pursue the development and
commercialization of this promising therapeutic agent," said Andreas Sommer,
Ph.D., Celtrix's president and chief executive officer. "Expansion of Genzyme's
technology and territory rights reflects our partner's continued interest in
TGF-beta-2 and provides Celtrix with the opportunity for increased revenue from
future milestone and royalty payments."
Celtrix is a biopharmaceutical company developing novel therapeutics
for the treatment of seriously debilitating, degenerative conditions primarily
associated with severe trauma, chronic diseases or aging. The company's
development focus is on SomatoKine(R), a novel IGF-BP3 complex, for use in
regenerating lost muscle, bone and other tissues essential for the patient's
health and quality of life. Ongoing product development programs target acute
traumatic injury, such as hip fracture surgery in the elderly and severe burns.
SomatoKine is currently undergoing Phase II clinical feasibility testing for
these two indications. Other potential indications include severe osteoporosis
and protein wasting diseases associated with cancer, AIDS and other
life-threatening conditions. Through strategic alliances with Celtrix, The Green
Cross Corporation (now merged with Yoshitomi Pharmaceutical Industries Ltd.) is
developing SomatoKine for the treatment of osteoporosis in Japan, and Genzyme
Corporation's Tissue Repair Division is developing TGF-beta-2 as part of a
comprehensive approach to tissue repair and the treatment of systemic disease.
-more-
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"Celtrix Expands Relationship With Genzyme Tissue Repair"
Page 2
This news release contains certain forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of 1934, as amended.
Actual results may differ materially from the statements made, as a result of
various factors, including risks associated with the ability of Genzyme to
develop and commercialize TGF-beta-2, as well as risks associated with future
research, clinical study results, the regulatory approval process, competitive
products and other factors which are listed from time to time in Celtrix's
Securities and Exchange Commission (SEC) filings. These forward-looking
statements represent Celtrix's judgment as of the date of this news release.
-end-
